The Ghana Police Service conducted a major operation on September 2, 2024, leading to the arrest of 487 individuals associated with the Ponzi scheme known as QNET in Kumasi, Ashanti Region.
257 females and 230 males
The suspects, including 257 females and 230 males, were apprehended in a house at Adwuman near Kenyasi, a Kumasi suburb.
Preliminary investigations revealed that the suspects lured unsuspecting victims from across the country with promises of high returns on investments through the QNET scheme.
The police recovered various registration documents and materials bearing the QNET logo during the operation.
Among those arrested 12 individuals, identified as key executives of the scheme, are currently assisting with the investigation.
Names of 12 leaders
They are Gyereh Evelyn, Francis Kpesah, Samuel Musah, Simon Yakubu, Thomas Kotual, Kwasi Nyabi, Benjamin Nsigma, Elijah Musah, Moses Katu, John Balabon Tagnakibi, James Nogma, and Fidelis Bang-ib.
The police have urged the public to be vigilant and report any suspicious activities related to such schemes.
QNET part of QI Group in Hong Kong
QNET was part of Quest International, also known as the QI Group, located in Hong Kong and operating in many countries.
Nigerians, Burkinabes, Ivorians, Malians, Togolese dominate QNET
The activities of QNET were mostly dominated by Nigerians, Burkinabes, Ivorians, Malians, and Togolese, who laundered the proceeds from their illegal activities.
QNET in Ashanti, Western, Eastern, Ahafo regions
In Ghana, QNET mainly operated in the Ashanti, Western, Eastern, and Ahafo regions and engaged in various “fraudulent schemes,” such as inviting the public to buy products for outrageous and non-existent profits.
Countries where QNET is banned
Owing to its “illegal activities,” the company had been banned in the USA, Canada, Australia, Rwanda, Iran, Sri Lanka, Syria, Afghanistan, and Cote d’Ivoire.
Ghana Court bans QNET
Flowing these, Attorney-General (A-G), Godfred Yeboah Dame, petitioned the Commercial Division of the Accra High Court, and in 2022, the court ordered the dissolution of Quest Net Limited (QNET) for engaging in dishonest, illegal, and fraudulent business activities.
In a judgment dated July 20, 2022, the court, presided over by Justice Jennifer Abena Dadzi, upheld the arguments made by the A-G.
Aside from dissolving QNET, the court also restrained the directors, members, and officers of the company from exercising any powers that pertained to the running of the company under the then Companies Act, 1963, Act 179, under which QNET was incorporated.
The petitioner averred that to become a member of the false schemes put in place by QNET, the company required prospective subscribers to purchase various online items for sums ranging between GH¢5,000 and GH¢15,000.
Investigations indicated that QNET also took money from people with the false representation that the company could help them find jobs.
After taking the money, the A-G said, the company would orchestrate the arrest of its victims who tried to make noise about its “fraudulent activities.”
In its judgment, the court further granted the A-G an order to appoint the Registrar of Companies, in her capacity as Official Liquidator, to exercise the powers of a liquidator, including managing the assets of QNET pending the making of a winding order by the court
