GoldQuest : Summary on goldquest till date
Everyone knows that something happened with goldquest though only a few people know what exactly happened till date.So i thought it would be a good job if i could throw some light on this company and its happenings till date.
Police took the staff of goldquest in the month of march saying that they are running some illegal business in india.They were holding some gold coins with them.The MD., Pushpam Appalanaidu and some other members were taken into custody.An IR(Independent Representative) have filed a case saying that his upline has cheated him by taking money from him.The other case is that one individual has made around 172 registrations(Pay 440 INR and you can get registered) and gave them a word that they will get the product which eventually turned out to be a big blundered.The company in the month of December and January ran a plan different from the original plan.If an IR could make 3 on left and 3 on right then he will be paid 11,500 INR + 16000 INR which the company said is a BONANZA Offer.People in a hurry to make most of this opportunity made many people saying false news and eventually they have to pay in big.There were around 2000 plus complaints against goldquest till dated which is more than the tolerable limit.
There were rumors in the newspapers even that money will be given back saying that in Goldquest Terms and Conditions was a point which mentions that if an IR opts out of the plan, money will be given back.Media has misread this point because there is no such point in goldquest terms and conditions.While all this was happening in INDIA Datuk Vijay Eshwaran said that his company quest net is having no connections what so ever with INDIAN arm of GoldQuest international.
If you go through the goldquest international plan you can understand it as no get quick rich scheme.Few people argue that its money circulating scheme.While everything is ok with goldquest,if you can go through one of the products which goldquest served(Mobiles),they are much cheaper comparable with china mobiles.A set of two mobiles were sold by GoldQuest for a lump some amount of 35k INR which is very huge.Such kind of silly mistakes have cost very much for goldquest.
Also it came to my knowledge that GoldQuest people are looking for a permanent solution for such issues because this is not the first time this company(Goldquest international India pvt ltd.,) has been into such situation.A similar kind of music they faced in 2004 and are they facing now.If they don’t find a permanent solution for this then the recurrence of this kind of situations won’t stop and the reputation of Goldquest(if there’s still after all these) will be further spoiled.
The other case which the police have come up with is the MD., Puchpam Appalanaidu was holding a 300 crore rupees property with her.Also that the company has invested lot of money (Approx 150 crores) in share market,hough there are no proofs for such things.Now entered the media and made all uncertain things look people more than true.I was shocked to learn how media,such big responsibility persons can bring false news to people.They don’t have even a bit of knowledge of marketing it seems.They have written that GoldQuest offices in Hyderabad were closed when there was only one office of goldquest.They were not having any idea what a team office is and what a company office is.
Most recent news is that the team offices are open again(in Hyderabad) and they are taking utmost care this time.It seems to be an impossible task to make any people join this business after all these things have happened.
Please leave your valuable suggestions or comments.Thank you one and all for going through my extractions.
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June 17th, 2008 at 2:31 pm
this is a great opportunity for gold quest to do well in india. they have to act fast and make people realise that company has got nothing to do with such frauds. if they take time doing that people would have forgotten by then about what had happened.
secondly company is stupid to have its office at chennai, everyone one knows the psycology of people over here, present chief minster was arrested few years ago and picked by police at midnight as if he was caught red handed in a murder case. any thing is possible in chenai, Where Bagwa Rams statue was beaten by public in full view in 70s, any thiong is possible here. The first thing comapany should do is shift main office to some civilised place may be Bomabay.
Third company should select the responsible office bearers, who can ensure efficency in runing of the biz the country and have some sort of online feed back from its customers, because product delivery has been a concern. if company did n’t get a feed back about it in this age of internet then something is really wrong.
June 17th, 2008 at 4:41 pm
Thats was an excellnet suggestion from vineeta.They should have opted out to some other place.But may be that the GMD of the company is from tamilnadu and having some respect to his mother land he might have started the services from here.But still vineeta is true a shift and that too a quick one is needed if goldquest needs to stay still after all this.
June 25th, 2008 at 5:40 pm
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July 2nd, 2008 at 2:50 pm
Ethical or unethical doesn’t matter in GQ or in any other business.
According to me, the things that cause harm to public is unethical and the one that cause good or no harm is ethical.
I dont care if GQ is working ethically or unethically.
Here the majority of people were affected and the company is not worrying about the losers who joined GQ.
So GQ is considered to be an illegal business.
affecting most of them who joined.
There are many great things like peace of mind than earning money.
I like to live peacefully with less money than
living rich by earning this way
The company know that 5-10% are gaining and 90% are loosing for the past 10 years. Then why cant they bring reimbursement policy.
They can even set a time limit for reimbursement.
Why the company is not doing this is, it can get the full 30K from the 90% loosers.
But one positive thing is
now this scam is shown clearly in public.
So people will be aware of such of kind of scams.
Thru media people had known everything. So further cheating willnot be continued. Even if it is continued, I think the the % of people joining will be gradually reduced soon.
July 2nd, 2008 at 2:51 pm
The company know that 5-10% are gaining and 90% are loosing for the past 10 years. Then why cant they bring reimbursement policy.
They can even set a time limit for reimbursement.
Why the company is not doing this is, it can get the full 30K from the 90% loosers.
But one positive thing is
now this scam is shown clearly in public.
So people will be aware of such of kind of scams.
Thru media people had known everything. So further cheating willnot be continued. Even if it is continued, I think the the % of people joining will be gradually reduced soon.
July 24th, 2008 at 4:56 pm
Gold quest or questnet the fact is that they have started thousands of small branches in different names like titans…and are still cheating many …these branches are akin to terrorist sleeper cells..The master brains behind all these are hiding in Bahrain and USA.I would like to warn those from kerala and Tamilnadu especialy …many sleeper cells are active there now…be careful …the greedy
July 27th, 2008 at 6:32 pm
People take to network marketing as a means of profession, just as they do to Medicine, engineering, banking etc and appear for the CAT, AIEEEs, MBBs etc, paying substantial sum of examination fees. There the results are not even 1%, but people dont find any scam there. These elite institutions also know the pass percentage, but continue to hold exams, and people continue to appear in them.
Similarly, in all jobs, profession and businesses, it is not that, that every body is a great success. Only very few reach the top. In this business also many fail because they dont work hard enough, many succeed partially and few only hit it big. So, what’s wrong with this business. Everything is in black and white, crystal clear and yet people want to label it as scam. It’s ridiculous.
Well, some can enjoy the present situation for some time, but people like us are standing solidly behind the company in their quest for a permanent and judicial outcome. We are prepared to wait, but would like company to come out with permanent solution to the problem.
August 11th, 2008 at 2:59 pm
Those who are in Questnet or Gold Quest or any other MLM….Do you all want to make a luxury living from other people’s hard earned money? …..shame on you all. This is worse than day time robbery and a very sinful business.
Here after everytime when you eat food, feed your children, just remember (your mind will prick) that you are doing that sinfully earned money.