A-G moves to dissolve QNET Limited over ‘fraudulent activities’

The Attorney General (AG) Godfred Yeboah Dame, has filed a petition at the Accra High Court seeking an order to dissolve a network marketing company QNET believed to be a Ponzi scheme.

In the petition filed at the Commercial Division of the court, the AG accused QNET of engaging in dishonest, illegal and fraudulent business activities.

QNET is said to mainly operate in the Ashanti, Western, Eastern and Ahafo Regions, engaging in various schemes such as inviting the public to buy products for outrageous and non-existent profits.

“Investigations by the National Security Council Secretariat disclosed that QNET operates in a manner akin to a Ponzi scheme by luring clients to make deposits and investments with them which they eventually lose.

“Petitioner (A-G Godfred Dame Yeboah) holds that to become a member of the false scheme put in place by the respondent (QNET), respondent requires prospective subscribers to purchase various online items for various sums ranging between GH¢5,000 and GH¢15,000,” the petition revealed.

Investigations further revealed that QNET also took money from people with false representation that it could help them find jobs.

“The respondent lures unsuspecting members of the public to pay the sum of about GHGH¢5,000 for the purpose of placing them in various jobs which turned out to be a hoax,” the petition added.

The Attorney General said after taking the money the company would then orchestrate the arrest of its victims who try to be to tell others about its fraudulent activities.

Alleged money laundering

Mr Dame further contends that the activities of QNET are mostly dominated by Nigerians, Burkinabes, Ivorians, Malians and Togolese, who launder the proceeds from their illegal activities.

“The petitioner says the widespread criminality and illegality for which the respondent is being operated has grossly undermined its existence in the Ghanaian community,” the petition added.

According to the AG, investigations revealed that QNET is part of Quest International also known as QI Group which is located in Hong Kong, a company operating in many countries.

However, the AG said owing to its “illegal activities”, the company has been banned in the USA, Canada, Australia, Rwanda, Iran, Sri Lanka, Syria, Afghanistan and La Cote d’Ivoire.

What AG is seeking

The petition was filed under the Corporate Insolvency and Restructuring Act, 2020 (Act 1015), Section 84 (1) of Act 1015.

The Act allows the AG, the Registrar-General, a creditor of a company or a member of the company to present a petition to the High Court for the official winding up (dissolution) of a company on grounds that”

  • The business or objects of the company are unlawful
  • The company is operated for an illegal purpose
  • The business being carried out by the company is not authorised by the constitution of the company

Based on the above provision of Act 1015, the AG is seeking an order from the High Court for the official winding up of Quest Net Limited, and an order restraining the directors, members and officers of the company from exercising any powers that pertain to the running of the company.

Mr Dame also wants the court to appoint the Registrar of Companies, in her capacity as an Official Liquidator to exercise the powers of a liquidator including managing the assets of the respondent Quest Ney Limited pending the making of a winding order by this Honourable Court.

8 Comments
  1. Anonymous says

    Kindly let us know how it pans out, I, for one, am tired to trying to sensitize people about this fraud. I think this action is way overdue.

  2. Alvin says

    Qnet is a company that can change life’s and also pay you 2000$ weekly is not a scam

  3. Anonymous says

    In fact qnet is a great scam. A lot of people have wasted their money and time yet got nothing out of it. I’m speaking out of exprience no one should ague with me.

  4. Timothy Abektebala says

    In fact qnet is a great scam. A lot of people have wasted their money and time yet got nothing out of it. I’m speaking out of exprience no one should ague with me.

  5. Anonymous says

    Am also talking out of experience

  6. Anonymous says

    Is a life changing opportunity

  7. Anonymous says

    Qnet is the greatest business opportunity ever on this planet, it changes live. I can see we misunderstand fraud here because if you have done what you have been ask to do by the company you will not go out there and call Qnet a scam. This company cannot be in existence for 22years to 23 years now if it’s a scam.

  8. Anonymous says

    Qnet can not be company that changes life for where, Qnet rather come finish up people property and also kill people in addition. Am speaking out of experience, at my village we lose three people mainly because of Qnet not something else. Someone is telling us Qnet changes life, it rather condemned life. Am AG to continue to fire against it Ghana, so that we can save people life’s and properties.

Leave A Reply

Your email address will not be published.

You might also like