Indian tennis star Sania Mirza under fire for endorsing QNET Ponzi scheme

The victims of QNET, a multi-level marketing company, who lost their investments with the firm have complained to the Enforcement Directorate against Indian tennis player Sania Mirza for being involved in the promotion of Money Laundering activities of shell companies of Malaysia.

An NGO – the Financial Frauds Victims Welfare Association – is fighting against financial frauds like multi-level-marketing (MLM) including Ponzi Schemes running in India like the QNET. The Association on April 4,2023 also filed a detailed petition seeking action from K. Chandrashekhar Rao, the Chief Minister of Telangana.

Gurupreet Singh Anand from the NGO said, “Sania Mirza is a very famous personality in  sports and she has been continuously endorsing QNET Ponzi schemes and this automatically lures common people. The QI group based in Malaysia is currently being investigated by the ED. Now Sania has been endorsing illegal Ponzi schemes of the QI Group. It would be prudent that investigation should be done as to how  much money was received by Sania Mirza for travelling, hotel stays, endorsement of the illegal activities of QI Group of companies  involved in money laundering through floating Ponzi schemes under various names like Goldquest aka Questnet aka QNET . It is evident that the group is involved in anti national activities and in financing terrorism in India.”

Therefore, the NGO demanded and has written a letter to the Enforcement Directorate to investigate the endorsements funds trail to Sania Mirza. Anand added , “She has been actively promoting money laundering out of India by attending the promotional events organized by shell companies of the QI Group based in Malaysia and other tax havens.”

So far, 30 cases have been filed against QNET in Telangana, with Cyberabad accounting for 25 of the cases. Some of them have been taken over by the enforcement directorate (ED), while others are in more preliminary stages of the investigation.

Amid the probe on QNET, the firm is looking to expand in the state’s rural pockets.

V.C. Sajjanar, a former Cyberabad police commissioner said , “ The celebrities should refrain  from endorsing QNET because of the alleged investment frauds, on account of which people have lost huge sums of money.

Despite repeated phone calls and text messages to Sania Mirza she remained unavailable for comment.