Qnet fraud - Questnet and its growth story

Sep 17
11:31

2012

susancastro

susancastro

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Questnet is a Hong Kong based direct selling firm which was first established in the period between 1998 and 2000.

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The company was launched with an aim to bring positive change in the lives of millions by giving them opportunities to set up a venture of their own and also promote the company and its products. It was earlier known as GoldQuest which was changed to Questnet in the year 2003. It is owned by QI Group. The product portfolio of the company spans across various product categories like health and wellness products,Qnet fraud - Questnet and its growth story Articles tour and holiday packages, collectibles, luxury items, jewelry, watches, nutrition products and so on. Registered offices of the company are located in several Asian countries like India, Egypt and Taiwan. Questnet functions on the multi-level-marketing model along with ecommerce business model in certain regions. The company boasts of a solid, well-defined strategy where each independent representative of the company has to refer a friend to the company who is willing to buy the company’s products or services. When the referred person buys anything, the independent representative who had referred him earns compensation on the sale made. This way, the independent representatives earn compensation on the entire sales volume as well as the sales volume of their team which functions in a binary way. In the recent times, there have been many negative reports floating about Qnet fraud on several online portals. Jealous competitors have been spreading malicious gossip about the company in a bid to tarnish the image of the company and reduce its profit share by bringing down the number of investors who are willing to invest in the company.

The strategy adopted by Questnet is much like most other companies who rely on the multi-level-marketing strategy. Promoting pyramid schemes is one of the highlights of any MLM firm. However, the Qnet fraud news that spread like wild fire mentioned that the company was following illegal practices and was fooling people into invest in the company by promoting fake, Ponzi pyramid schemes. All the rumors spread about the company were baseless and without any substantial evidence. The company has its head office in Singapore and its registered office in India is located in Chennai. It has been in business now for ten years and it is practically unfeasible for any illegal company to function for such a long duration without attracting the attention of watchdog organizations. Questnet was one of the few firms to introduce the concept of multi-level-marketing for direct selling firms. One another company that has adopted the multi-level-marketing model is Speak Asia. Since the time it was launched, Quesnet has earned huge profits and also has a satisfied base of thousands of customers as well as employees working for the firm.

Due to the debatable nature of the marketing model adopted, the company has been the subject of many controversies in the recent times. Many organizations as well as other companies have labeled the company as a con and farce. However, there is no truth to any Qnet fraud and these are only false claims that are triggered with the sole purpose of tarnishing the company’s image and bringing down the market value.