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    HomeNewsBusinessCompaniesAmway India Chairman, 2 Directors sent to 14 days custody

    Amway India Chairman, 2 Directors sent to 14 days custody

    Amway India Chairman and its two Directors were remanded to 14 days custody after they were booked under the Prize Chits and Money Circulation Schemes (Banning) Act based on complaints in 2011.

    May 28, 2013 / 20:33 IST

    Network marketing firm Amway's India Chairman and CEO William S Pinckney and two company directors have been remanded to 14 days judicial custody by a local court here.


    Pinckney and directors Sanjay Malhotra and Anshu Budhraja were arrested by the Wayanad Crime Branch (Economic Offences) wing from Kozhikode yesterday in connection with three fraud cases registered in Wayanad district.


    Also read: Amway India chief William Pinckney, two directors arrested


    Kalpetta Judicial First Class Magistrate N Ravishankar last night remanded them for 14 days. They were booked under the Prize Chits and Money Circulation Schemes (Banning) Act based on complaints filed by two persons in 2011.

    Last year the Crime Branch (Economic Offences wing) had conducted searches at the Amway offices at Thrissur, Kozhikode and Kannur districts as part of its crackdown on money chain activities. The company's godowns in these centres were also closed and goods seized.

    first published: May 28, 2013 01:38 pm

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