Amway India CEO arrested for 'unethical circulation of money'

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Amway India CEO William Scott Pinckney was arrested on the charge of cheating and other financial fraud. He was taken into custody by a special police team at Gurgoan, New Delhi and was shifted to Kurnool on transit warrant. He would be produced before the magistrate here on Tuesday.

In his capacity, as the CEO of Amway India, Mr. Pinckney, figured as the second accused in the case while the enterprise was named the prime accused.

K. Raghurami Reddy, Superintendent of Police of Kurnool district, who followed up the investigation, told the reporters that charges were framed under section 420 of IPC (cheating) and sections 3, 4, 5, and 6 of Prize Chits and Money Circulation Schemes (Banning) Act 1978.

A case was registered at Two Town Police Station in Kurnool city in 2013 in response to a complaint by an advocate Jagannatha Reddy. Along with Mr. William, three others identified as Venkateswarlu, Vinaykumar and Erranna also figured as accused in the case for being the custodians of the local distribution centre.

The police planned to seize the Amway distribution centre, stock point, the products and the accounts as part of the investigation.

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