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BW Businessworld

Amway India Chairman, 2 Directors Arrested

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Network marketing firm Amway's India Chairman and CEO William S Pinckney and two company Directors were arrested in Kozhikode on Monday, 27 May 2013 on charges of financial irregularities.

The two directors are Sanjay Malhotra and Anshu Budhraja, crime branch sources said.

The arrests were made on a complaint of a woman who claimed to have incurred loss through the network and on the basis of three cases registered against the company last year in Wayanad district, they said.

Police had questioned the trio earlier this month and had asked them to report again today for further questioning.

They were arrested when they arrived at the police station.

BW|Businessworld had discussed how Amway’s way of doing business is in peril in an article in its 6 May magazine edition. (Read: The Lure Of The Good Life)
 
Last year, the crime branch (economic offences) wing here had conducted searches at the Amway office at Thrissur, Kozhikode and Kannur as part of its crackdown on money chain activities. Their godowns at these centres were closed and goods produced were also seized.

The searches were launched following a complaint lodged by Visalakshi of Kozhikode claiming that she had incurred losses.

(PTI)