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 Post subject: Gold Quest - Illegal pyramid scheme - Highly connected
 Post Posted: Sun Jun 11, 2006 4:38 am 
Gold Quest - Illegal pyramid scheme - Highly connected
Nivard’s quest for Central Bank Governorship stuck on gold trail

By Sonali Samarasinghe
SL / 04Jun006


Shocking evidence has come to light of an elaborate scheme by the infamous Gold Quest players to spread their tentacles into every area of Sri Lanka’s economy through top Presidential Advisor Ajit Nivard Cabraal.

Gold Quest has been so sharp in its dealing with Sri Lanka that even at its international conference in Malaysia organised by one of its major companies

Quest International (QI) last month, the likes of Sri Lanka’s high Commissioner to Malaysia R. D. Cassie Chetty was seen legitimising the affair as an honoured guest. Some 100 youngsters from Colombo, Galle, Matara and Kandy were present as part of the huge networking conference which included about 1000 youth from around the world. That is even as a full fledged investigation was underway in Colombo by the Central Bank on their business practices.

Gold Quest and other like Multi Level marketing schemes have been under intense Central Bank investigation by a Special Investigations Unit with the Inspector General of Police Chandra Fernando releasing a team of CID officers on secondment to the Central Bank, to help with the investigations.

Not only that, the Central Bank recently ran a series of advertisements in the media warning the public that the pyramid scheme was raising its ugly head again under different guises.

Economic tsunami

The illegal pyramid scheme originating in America has been described by American experts as a financial tsunami for developing nations and is rendered illegal under the Banking Amendment Act of 2005.

However the investigation, conducted by a special unit of the Central Bank may be under severe threat of being politically influenced, with Cabraal also sitting at an office in the same Central Bank Building as Secretary, Ministry of Plan Implementation.

Tryst in Monaco

Even moreso, as Cabraal, widely tipped to be appointed governor of the Central Bank by President Mahinda Rajapakse, as recently as last week, with impunity accepted an all expenses paid luxury invitation to Monaco by Quest International to attend the annual Grand Prix.

Not only that he even arranged for his sons to fly with him to the Formula One sporting event, asking for rooms for them on a sharing basis (see copy of fax sent to Anura Fernando).

However Cabraal was unable to attend at the last minute as the Oslo talks were being negotiated and he was compelled to stay in Colombo in case the peace talks hurriedly resumed.

That Nivard Cabraal is not playing a straight bat is evident given that despite documentary evidence to the contrary, he denied accepting the QI Monaco invitation, stating casually that he gets many invitations from various companies but he did not accept any invitation from QI. (Please see interview box and elsewhere on this page for copy of letter where he not only has accepted but has made preparations for his trip through Anura Fernando.

Meanwhile Cabraal also sold shares in a family company of which his wife is still a director to a front company of Gold Quest — Suntex International Holdings, thus making this a sordid jumble of conflicting interests and unethical business practice. Especially given his ambition to be governor, Central Bank and given that it is the Central bank that is investigating into the Gold Quest players.

Anura Fernando the link

The ambitious Nivard Cabraal’s link to Gold Quest is through a local man of dubious reputation called Anura Fernando. Fernando is also the local agent for Gold Quest. Fernando has already been questioned and his statement recorded by the Central Bank Investigations Unit in connection with Gold Quest. But more on Fernando later.

Anura meets Rajapakse

However, suffice it to say for the moment that it was Ajit Nivard Cabraal who was to take Anura Fernando –businessman, to meet President Mahinda Rajapakse during the presidential campaign last year to give the campaign a helping hand.

In fact when this writer asked Fernando whether he had also discussed Gold Quest when he met Rajapakse last year in the company of Nivard Cabraal to help with the campaign, Fernando did not deny the meeting but said he did not discuss Gold Quest. That we have on record.

"I knew Mahinda Rajapakse long before Gold Quest," he was to say. Funnily enough however while saying he knew Rajapakse long before Gold Quest, when confronted with the statement that he was in fact the agent for Gold Quest he said, "I’m not the agent for Gold Quest I don’t know what you are talking about." But more on that anon.

Monaco trip

Be that as it may Cabraal faxed the names of his family on April 2, 2006 to Anura Fernando to make the necessary visa arrangements for the Monaco trip. (See copy of fax sent by Cabraal Consulting Group elsewhere on this page).

Accepted invitation

On April 27, 2006 Cabraal received a formal update and programme review of the Grand Prix to be held May 25 –28 by Quest International – mind you a company currently under investigation by the Central Bank – addressed to him also at the Central Bank of Sri Lanka. (See copy of letter elsewhere on this page).

The letter thanked Cabraal for confirming his participation at the Quest International (QI) F1 Monaco event stating QI was honoured to welcome and host him as one of their VIP guests.

Mendis asked to resign

While Cabraal was busy wheeler dealing on state time on the one hand while angling for the governor’s seat on the other, the present Governor of the Central Bank, Sunil Mendis was asked to resign by Mahinda Rajapakse.

An unheard of and unprecedented course of action considering the Central Bank Governor’s post is a sacred appointment protected by the constitution.

Many in the finance sector are nonplussed that Mendis was moved out to accommodate Cabraal for no good reason other than to fulfil a lifelong dream of Cabraal’s since his salad days as an accountant. Removal from a posting is conferred on Parliament unless the person voluntarily resigns. Mendis will vacate office by June 30. He obviously had no stomach to refuse a presidential request.

Gold Quest invisible but present

Gold Quest in the meantime has wormed its way into the Sri Lankan economy by an ingenious method of laundering. It has bought into the tea, leisure, banking and telecommunications industry as well. Though Gold Quest held an almost 20 percent share in National Development Bank (NDB) through its proxies, a Malaysian national Tagiah who held 9.9 % and another foreign account which held 10 %, these were sold at the beginning of this year. However the talk in the market is that the shares were sold and re bought by persons or companies with less obvious but as intense a connection with Gold Quest as the overt proxies.

The elaborate operation

In a nutshell the story is this. Gold Quest, under investigation by the central Bank was to enter Sri Lanka through the back door. Its overseas associate and front company, Suntex International Holdings Ltd – based in Hong Kong bought into a Sri Lankan credit and finance company Capital Reach Credit Ltd and also bought 50 percent stake of the local tea company Ferntea Pvt Ltd.

Suntex then used the resources of Ferntea to clear gold coins, wristwatches, numismatic products and other similar items on behalf of Suntex International. The local company for Gold Quest is Rhythm Collections Pvt Ltd. Ferntea would thus clear the items for the Gold Quest overseas associate Suntex and hand over the items to the local Gold Quest front company, Rhythm Collections Pvt Ltd, and voila! home and safe.

Journos taken on promotional tour

That Gold Quest will splash money to make more money is obvious. This year on March 22 and April 28 they escorted a number of Sinhala and English journalists to Honk Kong and Malaysia on a promotional junket tour. A source at the Central Bank said that 10 or 11 journalists had in fact gone and CID sources stated that these trips may also come under scrutiny.

Some of the journalists who went are Boolitha Pradeep Kumara from the Upali Group (Divaina and Island). Prasanna Sanjeewa Tennakoon of the Wijeya Group (Lankadeepa, Daily Mirror and Sunday Times), Geeth Prasanna Gunasekera from the Sumathi Group (Lakbima), Malinda Seneviratne of the State media and lately of the Arpico group.

Sunday Leader offered HK trip

Once the Gold Quest people were made aware of The Sunday Leader investigation which we commenced only last week, this writer was also offered an all expenses paid trip to Hong Kong last Thursday. The offer was politely but firmly declined with a comment that if The Sunday Leader needed to go to Hong Kong as part of the investigation it would pay its own way. However in the interests of right of reply see elsewhere on these pages for a comment by Gold Quest.

Evil cult

Incidentally, in some parts of the West and even in America and Australia, multi level marketing and such pyramid schemes are even considered evil cultism and not merely bad business practice. Be that as it may in Sri Lanka it is considered detrimental to the floundering economy and a scam aimed at rural youth from low income families who would easily get enticed into these schemes.

Infiltrated

Central Bank investigators speaking on grounds of anonymity told The Sunday Leader that infiltrations have been made to the deepest parts of Sri Lanka from Anuradhapura in the North Central Province to places like Karandeniya in the south.

The Central Bank prohibited the Pyramid scheme under the Banking Amendment Act of 2005 which came into effect on February 10, 2005. Top sources at the Central Bank told this newspaper the act was careful to describe the characteristics of these prohibited schemes rather than name them, as resourceful marketers would merely change the names of these schemes to gain legitimacy and avoid the effect of the Act.

A Central Bank source told this writer that those involved in the now widely known Pyramid scheme could easily take cover by re labeling the business and claiming they were internet vendors involved in internet marketing, network marketing or multi level marketing. The public must thus be extremely vigilant to study the characteristics of the business or scheme before being roped into it.

Name changes

A source at the investigations unit also confirmed to this writer that Gold Quest based in Hong Kong, goes under various other names and has different front companies that are currently also under investigation. They are Quest Net, QI or simply just Quest. So they are a cluster of companies.

QI is ofcourse the company whose all expenses paid Monaco invite was accepted by aspiring Central Bank Governor and Secretary Ministry of Planning Ajit Nivard Cabraal.

Arrests made

Already young rural boys and girls have been arrested under the Banking Amendment Act of 2005. On December 15, 2005 a number of young Gold Quest recruits were arrested in Anuradhapura while as recently as April 25 this year another seven persons were arrested in Karandeniya . All these recruits are between 18-22 years of age.

The total number of arrests of young persons by the Central Bank in collaboration with the CID have now risen to 11. Cases have already been filed and investigators reveal that many other names have surfaced from the initial statements made by the arrested youth.

Lured by adventurism

What is pathetic is that about three of the youth arrested are A Level students and sitting for the exam this month. Our investigations revealed that the promoters were targeting young and gullible youth from the lower income groups and creating a sense of adventurism and mystique in order to lure them into the never ending world wide web of a money making scam that will ultimately leave you drained and alone.

No parents please

Central Bank Investigators told The Sunday Leader that the promoters discouraged the youth from bringing adults to the meetings as they asked too many questions while the youth are more spontaneous and would act immediately with little deliberation.

Also the rural youth are dazzled by promises of quick money and windfalls including the use of modern management techniques, promises of trips abroad and fancy cars by showing the before and after lives of those who had joined the scheme.

Blowing hot and cold

Investigative sources said that the usual method of these promoters was to first meet with 50 identified youth and filter down based on commitment, ability etc. to 25 and gradually to 10 and so on until they hone in on three people. These three they name as Cold, Warm and Hot. The Hot person is immediately recruited and is made a part of the scheme. Then it is the promoter’s task to make the warm person hot and the cold person warm and then hot for absorption into the inner circle.

Secret location

Meetings are held if possible every week at a secret location. For instance in Karandeniya the meeting was in a small house located in a semi rural area adjoining a nondescript shoe shop. However when you enter the house you are shocked that it is fully air-conditioned and has a posh interior not commensurate with its outer façade.

No strangers are allowed at these meetings. However if you are already in the inner circle you may invite a friend or someone you know well enough to ensurethe person is not a mole or part of a sting operation by investigators.

Cult

Central Bank sources told the newspaper that this is fast turning into a cult based on team work and intense bonding. They also said that in Anuradhapura and Karandeniya the promoters have been from Pannipititya in the Kottawa area

Cabraal connection

Now that we understand the workings of Pyramid marketing promoters let us look at the companies specifically involved in Gold Quest through massive subterfuge and surrepticious selling of shares. We promise you a roller coaster ride that will end at the feet of Ajith Nivard Cabraal.

How is Cabraal involved? What are these companies and who runs them? Let’s begin with the local company Rhythm Collections Pvt Ltd.

Rhythm Collections has its registered office at 209/10 4th Floor. Union Place, Colombo 2. Rhythm Collections is owned by Anura Fernando and his wife and therefore the directors are Nirmal Anura Fernando of No.8 Pelawatte Road Nugegoda and his wife Estalita Rozabelle Dolorus Fernando also of the same address. Rozabelle act as the secretary to the company while the auditors are AM Associates of Galle Road, Colombo 6.

Weeraman gets caught

Rhythm Collections had a show room at the Premier Pacific Pinnacle Building on Duplication Road. One Nalaka Weeraman was manning this showroom. On July 26, 2005 Weeraman, an employee of Rhythm Collections was arrested by the CID for violating exchange control regulations.

According to the CID and CB sources, he had sold some gold coins on behalf of Rhythm Collections and accepted foreign currency to the tune of approximately US $400. However Rhythm Collections was not licensed to transact in foreign currency.

Rhythm is the local agent for Gold Quest

CB sources confirmed to this newspaper that Rhythm Collections was engaged in the business of importing gold coins, wristwatches and other numismatics products as part of the marketing scheme of Gold Quest. The clearing agent for Rhythm Collections was Ferntea Pvt Ltd, which used its resources to have these items cleared through customs. The CID then questioned and recorded statements from those connected with Rhythm Collections including the two shareholders and directors — Anura Fernando and his wife. Ferntea persons were also questioned including Jayantha Fernando its chairman.

A case was accordingly filed B3559/05 at Mt. Lavinia Magistrate’s court under exchange control laws and in fact an interim order was made suspending Ferntea from clearing anymore goods until the conclusion of the investigation.

However sources close to Rhythm Collection say that the CID trapped Weeraman into transacting in foreign currency. Other sources told this newspaper Weeraman is out on bail and also now out of the country.

Anura Fernando when contacted by this writer said there was no merit in the case as Ferntea imported some goods and Rhythm Collections distributed them on behalf of Ferntea and there was an exchange control investigation where the authorities thought there had been a double payment. He confirmed the case was going on in Mt Lavinia courts but claimed that products were released and that the suspension order was dissolved.

Ferntea LTD.

The directors of Ferntea as at 22/7/2005 are as follows:

(1) Kunaseelan Senathirajah appointed on September 29, 2005. He is also a director of Suntex International Holdings Ltd.

(2) Richard E. Zinkiewicz also managing director Gold Quest International Alternate Director John Challen a British Lawyer

(3) Deepak Korla Indian- manager Suntex International Holdings Limited from 26/09/2005, alternate director Joachim Kurt Steffen German – manager Suntex International Holdings Limited

(4) Pushpam Appalanaidu Malaysian – accountant, Suntex International Holdings Limited from 26/09/2005, alternate director Magandran S.Rajadurai also Malaysian –accountant, Suntex IHL

(5) Jakob Mayer no alternate director

(6) Jayantha S.Fernando alternate H.Joseph Chrishantha Perera

(7) V.J.L.C.Fernando

(8) Shyamica Marcele Fernando appointed wef 12/06/2000

(9) Nirmala Anura Fernando appointed from June 27, 2005 also company director Rhythm Collections Pvt Ltd

(10) Jakob Mayer

One can immediately detect a large presence of Suntex International Holdings Limited in Ferntea. This is because Suntex bought up a 50 percent stake of Ferntea as part of its expansion plan into the tea and leisure business. It is Ferntea that Gold Quest then used to clear their goods through Customs. Before we go any further remember a name. That is Richard E. Zinkiewicz who is also managing director Gold Quest International.

Anura Fernando is also the CEO of Ferntea by virtue of the fact that Suntex now owns 50 percent of its shares.


Suntex International Holdings Pvt Ltd

What is Suntex?

According to Anura Fernando himself in an interview with this writer (see box for full text) confirmed that Suntex has invested heavily in two local companies. One was Capital Reach Credit Ltd. The other was Ferntea. Extremely reliable sources confirm that Suntex is in fact the overseas associate company for Gold Quest. ‘However Anura Fernando denied that Suntex had anything to do with Gold Quest.

Zinkiewicz

This denial is easily discredited by documentary evidence and the turning up of Richard E. Zinkiewicz like a bad coin at every turn. That Gold Quest has in fact through Suntex in September 2005 crept into Ferntea and possessed its body is obvious.

As recently as June 26, 2005 Zinkiewicz himself gives an interview to the state run Daily News, business section as the managing director of Gold Quest International.

He is reported to have said that he would like to have a lengthy discussion with the Central Bank stating the company commenced operations in Sri Lanka in 1998. "We have made repeated requests to the Central Bank but still we have not got a chance to explain our position," he reportedly states. Not only that, he is quoted as saying that Gold Quest is determined to expand operations in Sri Lanka and has invested about US$ 20 million in various businesses in Sri Lanka including tea and telecommunications.

He further states during the interview, "we are selling high quality products and the members are paid commissions for the sales made by them. Our coin buyers automatically become Gold Quest members and in turn can sell the medallions for commissions."

Zinkiewicz also said the creation of Questnet as the QI group’s central distribution channel, GoldQuest is now focusing on building a powerful and universally appealing brand name for the 21st century.

Sources close to GoldQuest told The Sunday Leader they are now in the process of developing a local brand that would not involve foreign exchange.

Goldquest link to Suntex confirmed

Therefore the link to Gold Quest and Suntex is irrefutably confirmed.

Now let us look at the most interesting part of this saga. Anura Fernando has already confirmed to this newspaper that Suntex has invested in Capital Reach Credit Ltd. He also confirmed to this newspaper in an interview that he is a director of Capital Reach Credit as of today. He is a director by virtue of the fact that Suntex has invested in Capital Reach.

But we all know that Suntex is in fact Gold Quest. Therefore Capital Reach Credit has now also been possessed by the pyramid monster.

Cabraal’s family concern

Capital Reach Credit Pvt Ltd is also the family concern of Ajit Nivard Cabraal.

Consequent to the acquisition of majority stakes in Vanik Leasing Limited and Vanik Factors Limited by Capital Reach Holdings Limited (CRHL), also a family concern of Cabraal, the board of directors of CRHL decided to change the names of the two subsidiary companies to Capital Reach Leasing Limited (CRLL) and Capital Reach Credit Limited (CRCL) on July 14, 2005. Infact in July last year at a simple ceremony held at the company’s corporate office at No. 1, Lake Crescent, Colombo 2, new name plaques were unveiled by the Chairman of the Group, Ajith Nivard Cabraal.

The directors of Capital Reach Credit Pvt Ltd are as follows:

(1) Nivard Ajith Leslie Cabraal, 32/7, School Lane Nawala – director Cabraal Consulting Group Pvt Ltd.

Nivard Cabraal was to however resign on 26/11/2005 a week after Mahinda Rajapakse won the presidential election in order to take up plum government posts. Instead he appointed in his place his wife Roshini Sunethra Cabraal also a director at Cabraal Consulting Group Pvt Ltd.

(2) Dayananda Muthukumarana a director of Capital Reach Holdings ltd

(3) Mayurasiri Bandula Fernando also a director of Capital Reach Holdings ltd

(4) Kumarasetti Vithanage Kolitha Mahinda Kumara

(5) Chandana Kumarie Sarojinie Perera Angelis Mudalige, a director of Forbes Real Estate Pvt Ltd.

A large number of Capital Reach Credit Limited shares were issued to Capital Reach Holdings in January 2006 amounting to 2,100,000 shares at Rs. 15 each.

The shareholders as at the annual return date of October 10,2005 are Vanik, Sebrof, Forbes Capital Pvt Ltd. and Capital Reach Holdings. Capital Reach Holdings has about 5,100,000 shares as disclosed.

What is Capital Reach Holdings?

The subscribers are Nivard Ajith Leslie Cabraal, Dayananda Muthukumarana, and five others. The major shareholders of this company are the Cabraal family and Suntex International Ltd.(See box for details on allotment of shares)

Be that as it may, President Mahinda Rajapakse must be doubly careful in his appointment of a Central Bank governor. Rajapakse, not the brightest spark in economics must also be intensely selective of his economic advisors on whom he must totally rely, especially given his inexperience in the subject and ignorance in business matters a fact he even admitted to at a business forum prior to the presidential election.

He must also be careful given that he met Anura Fernando in the company of Nivard Cabraal during his presidential campaign and that Anura Fernando is inextricably linked to an illegal business practice currently being investigated by the Central Bank.

There is a fear that this investigation, like many other large scale investigations before, will reach the same fate. It is upto Rajapakse at least now in the interest of honesty and transparent governance to direct the Central Bank to conduct its investigations fearlessly who ever may be perhaps involved in the scam, if at all. All the public asks for is a full and fair investigation.

And in the overall circumstances, he would do well to think before appointing Cabraal as governor of the Central Bank of Sri Lanka whatever his political or personal IOUs maybe to the man.


Anura confirms connection to Capital Reach

Anura Fernando when confronted by many allegations of fraud and theft (see box on Who is he?) said he was hurt that the newspaper should be asking about such matters and making him out as a crook. He completely denied any of the charges leveled against him on those issues and also stated he had never served jail time in Bangkok or in Sri Lanka. He also said that he was a bonafide businessman involved in bringing foreign investors to Sri Lanka and was in the business of portfolio management. People are driven by jealousy in Sri Lanka and he was a victim , he said.

Below are excerpts of an interview

Q: Are you a director of Capital Reach Credit Ltd?

A: Yes I am .The people who bought into Capital Reach is Suntex which is a Hong Kong based company and it is by virtue of Suntex that I’ m a director.

Q: Suntex is the front company or associate company for GoldQuest?

A: Suntex has nothing to do with Gold Quest but it has invested in Capital Reach and Ferntea

Q: It has bought 50 percent of Ferntea shares?

A: Yes

Q: By virtue of that you are also CEO and director of Ferntea?

A: That is correct

Q: What is Rhythm Collection Pvt Ltd?

A: It is a local Sri Lankan company

Q:There is a case of exchange control fraud presently in courts?

A: There is no case. Ferntea imported products and we distributed on behalf of Ferntea and there was an exchange control investigation as they thought there had been a double payment for the same goods. But now it is sorted out.

Q:When you met Mahinda Rajapakse in the company of Ajit Nivard Cabraal during his presidential campaign didn’t you discuss Gold Quest?

A: I knew Mahinda Rajapakse long before GoldQuest. I was even in the UNP working committee

Q: When did Suntex buy into Capital Reach Credit?

A: I can’t quite recall but a few months ago when there was a private placement

Q: Who are the current directors?

A: Justin Meegoda, representative of Finco, Mayura Fernando....

Q:Are there any foreign directors?

A: No

Q: How many shares does Suntex own?

A: About 20 percent, I think Vanik owns about 30 percent

Q: For how much did you buy it?

A: We bought it on par. Rs. 15. I can’t remember the total figure


Nivard denies involvement with Gold Quest

Q: Do you have any connection, relationship, contact or any dealings with the Gold Quest people?

A : Not me directly. But I think what has happened is that various companies come to talk to me. What is this about?

Q: You are tipped to be the next Central Bank governor and it is the Central Bank that is conducting investigations against this Pyramid scheme and has already published advertisements warning against it.

A: As far as I am concerned anything I do will be above board . If I take office of any nature I will ensure and do the right thing.

Q: What is your connection with Anura Fernando?

A: I know him very well.

Q: We learn that President Rajapakse met the Gold Quest people together with you and Anura Fernando before the presidential election. Is there any truth to this?

A: No they didn’t meet me

Q: Anura Fernando is on record that he met Rajapakse with you

A: I don’t know about that, no no I know whom I meet with, he never met with me.

Q: Isn’t Capital Reach Credit Limited a family concern?

A: I’m a minute shareholder. I have a few shares. My wife is a director

Q: Anura Fernando is also a director of Capital Reach Credit?

A: Yes. But there are many shareholders — MAS Holdings, Readywear, Renuka Hotels, Suntex so many companies and industries.

Q: Did you accept an invitation by Quest International, a part of Gold Quest for an all expenses trip to Monaco for the Formula 1 Grand prix?

A: I get a lot of invitations. Various people invite me to various things. I don’t know I only accept what I want

Q: Did you accept the QI invitation?

A: No I didn’t accept.

Q: What about Capital Reach Holdings Ltd ,the parent company of Capital Reach Credit and Capital Reach Leasing?

A: I don’t have any shares in CR Credit and CR Leasing but I have less that two percent in Capital Reach Holdings. There are other shareholders with substantial shares.



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Who is he? What does he do?

Who is this Anura Fernando. He is the nephew of the late B.J. Fernando President’s Counsel. Certainly he is a man charming in aspect but mention his name to many in Colombo or some business people in Fort and they will shudder. More than that, even some businessmen in Bangkok will go weak at the knees. Fernando did porridge for almost three months in Bangkok for defrauding a gem merchant of some US$ 350,000. He is said to have been arrested at border control. It is also alleged that he has defrauded another top politico based in the UK of some 45,000 sterling pounds. He was also arrested at the Bangkok airport about 18 months ago for defrauding Reliance Thai Co. Ltd. owned by an Indian national Syed Abdul Cader.

When confronted with these matters Fernando vehemently denied these charges to The Sunday Leader.

UNP MP Lakshman Seneviratne in fact somewhere between 2001 – 2002 was defrauded of Rs. 3 million by Fernando. Seneviratne made a CID complaint and Fernando was arrested. However the matter was then settled before reaching court with Fernando transferring his mother in law’s Nikaweratiya property in Seneviratne’s name. Only later did Seneviratne find that it was no settlement at all as the property was already mortgaged to Pramuka Bank and had no clear title.

Anura Fernando however denied these charges vehemently.

But Fernando is said to have started early. In his salad days he is charged with an involvement with forged currency while his political networking skills have never been in doubt. A man with many irons in the fire and many friends in high places he was even in the working committee of the United National Party having been appointed by Ranil Wickremesinghe for his services to the party in the form of brokering a deal with the DUNF and bringing them back into the fold.

In fact the man was extremely close to the late Gamini Dissanayake who sent him to receive some campaign funds on his behalf from India. However Dissanayake too was allegedly played out receiving only a fraction of the funds and Fernando was persona non grata after that. Thus Anura Fernando likeable as he is, is feared in business and political circles.And he is the point man of Gold Quest in Sri Lanka.


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The growing cult in Sri Lanka

A young boy glances back like a frightened deer to make sure he is alone before he makes his way along a rural path somewhere in Karandeniya near Ambalangoda. He finally reaches his location. A lower middle class house of nondescript aspect innocently standing next to a small shoe shop. As he reaches the door he does not knock. He reaches into his trouser pocket for a mobile phone. He dials. Seconds later the door creaks open and as he enters, it shuts quickly behind him.

He has told nobody of where he is going. It is a secret meeting. He brings no strangers. He is still new. But he is comforted, for as he walks in to the surprising air conditioned sophistication of the house from the heat outside, he is immediately made welcome and enveloped into a group that could perhaps for a time become his life and almost certainly his ultimate ruin. This boy is in the jaws of another promotional pyramid scheme meeting.


Top 
  
 
 Post subject: Nivard - the Deal Maker
 Post Posted: Sun Jun 11, 2006 4:47 am 
Nivard - the Deal Maker

Image

By Sonali Samarasinghe
@ SL / 11Jun2006


Despite vehement denials by Presidential Economic Advisor Ajith Nivard Cabraal and his long time buddy, the well-known dubious businessman Anura Fernando, that Suntex International Holdings Ltd. (Suntex IHL) has no connection to the infamous Gold Quest, The Sunday Leader now has incontrovertible evidence to the contrary.

Shocking new evidence now in our possession shows that not only Cabraal but top businessmen including the likes of Harry Jayawardene may be involved even unwittingly in an international web of alleged money laundering controlled by none other than Gold Quest and its front companies.

Nivard involved

Following an investigation carried out by this newspaper in Hong Kong last week we are now in possession of irrefutable proof that Suntex IHL, Hong Kong is a front company for the cluster of illegal Gold Quest enterprises such as Quest International, Quest Net and Quest.

We also have solid evidence that Cabraal and Fernando are both heavily linked through their companies with Gold Quest which is currently under investigation by the Central Bank. This, mind you, despite both Cabraal and Fernando denying any knowledge of Gold Quest during interviews with this newspaper last week. (See The Sunday Leader of June 4)

Suntex bought into Cabraal's Company

Cabraal, who until late 2005 was the chairman of his family company, Capital Reach Holdings Ltd. allotted 7,500,000 shares to Suntex on January 5, January 27 and March 17 this year. Suntex also bought an over 50% stake of Ferntea (Pvt) Ltd., by virtue of which Anura Fernando was made chief executive officer.

Last week, The Sunday Leader exclusively reported the surreptitious moves by the infamous Gold Quest players to spread their tentacles into every area of Sri Lanka's economy using the political influence wielded by Secretary, Plan Implementation Ministry and close Rajapakse ally, Cabraal.

Cabraal was an ever-willing tool, allowing Gold Quest front companies to buy into his own family enterprises with impunity, mind you, even though a massive Central Bank investigation into Gold Quest and other companies linked to it was already underway.

Meanwhile, recall that last week this newspaper told its readers to remember a name. That was Richard E. Zinckiewicz.

Zinckiewicz is the managing director of Gold Quest and has his office at Mass Mutual Tower, Gloucester Road, Hong Kong. Indeed in April he was to grant an interview to local journalists from the Wijaya Group of newspapers who reportedly met him at this office in Hong Kong.

Be that as it may, the Gold Quest website itself states that it is a multinational company and a retailer of gold and luxury products with a head office in Hong Kong at F Mass Mutual Tower, 38 Gloucester Road, Hong Kong

Richard E. Zinkiewicz

Now then who is Richard E. Zinkiewicz? He is the managing director of Gold Quest International Limited. As we pointed out last week, he had already given an interview to the state media on June 24, 2005 as the managing director of Gold Quest International and reportedly stated that the Quest International (QI) group has invested over US$ 20 million in various business ventures in Sri Lanka including financial, tea and telecommunications sectors.

In fact, as per our investigations overseas carried out last week, check out below the key players in the Gold Quest cluster of companies:

(1) Gold Quest International Limited

Directors:

Richard E. Zinkiewicz

Benjamin Dennis M Aguila

Shareholders:

Richard E. Zinkiewicz

Benjamin Dennis M Aguila

(2) Quest Net Ltd.

Directors:

Kunaseelan Senathirajah

Magendran S.Rajadurai

Joachim Kurt Steffen

Jakob Mayer

Benjamin Dennis M Aguila

Kurt Georg Rocco Rinck

Donna Marie Glenn Imson

The authorised representative in Hong Kong for Quest Net is of course Richard E. Zinkiewicz. However QuestNet is registered as an off shore overseas company and therefore not required to file the names of shareholders with the Hong Kong Companies Registry. It is incorporated in British Virgin Islands and its principal place of business in Hong Kong is none other than Mass Mutual Tower, 38 Gloucester Road. The same address as Gold Quest International.

So it is irrefutably established that Zinkiewicz is in fact the main man and indeed one of only two shareholders with Benjamin Aguila of Gold Quest International. Bear in mind however that Quest Net and all of its directors are also very much a part of Gold Quest.

Now let us take a dekko at the shareholders of Suntex IHL.

Directors:

Richard E. Zinkiewicz

Benjamin Dennis M Aguila

Pei Zhen Zhou

Shareholders:

Richard E. Zinkiewicz

Benjamin Dennis M Aguila

You will see that the shareholders are none other than Zinkiewicz and Aguila, who of course are the only two shareholders and therefore the joint owners of Gold Quest as well. With the exception of Zhou who has been made a director in Suntex, it is Gold Quest that totally controls Suntex International Holdings. This is irrefutable fact.

It is also a fact that Cabraal who claims to be a top economist and the country's foremost chartered accountant and Eisenhower Fellow to boot would definitely have known about this, despite his vehement denials to The Sunday Leader last week.

Capital Reach Holdings and Suntex

Now let us look at Cabraal's family company, Capital Reach Holdings Limited (see box for full details of shareholders). On January 5, Suntex IHL of 5F, Mass Mutual Tower, 38, Gloucestor Road, Wanchai, Hong Kong was allotted 1,000,000 shares. This address corresponds with the address of Gold Quest International and is in fact the office of Zinkiewicz.

On January 27, Suntex was allotted another 5,500,000 shares while on March 17 Suntex was allotted 1,000,000 shares.

Cabraal Consulting Group and Suntex

Furthermore, Nivard Cabraal's family concern is the Cabraal Consulting Group Pvt. Ltd. and his brother Lakshman Gerard Cabraal and his wife Roshini Sunethra Cabraal own a large number of shares in Capital Reach Holdings with Nivard Cabraal being one of seven subscribers to the company and his wife Roshini Sunethra Cabraal being a director of the company since November 26, 2005.

Nivard Cabraal who was chairman and director of Capital Reach Holdings Ltd. resigned on November 26, 2005 to take up plum political posts courtesy of President Mahinda Rajapakse after his slim presidential victory last November 17.

Vanik and Capital Reach

Meanwhile, let's backtrack for a moment for the sake of clarity. Somewhere in July 2005 Capital Reach Holdings Ltd. (CRHL) acquired majority stakes in Vanik Leasing Limited and Vanik Factors Limited. Vanik in fact was a group in dire financial straights and was obviously 'rescued' by Capital Reach Holdings.

The board of directors of CRHL decided to change the names of the two subsidiary companies acquired by them to Capital Reach Leasing Limited (Vanik Leasing) and Capital Reach Credit Limited (Vanik Factors) on July 14, 2005.

Not only that, in July last year at a simple ceremony held at the company's corporate office at No. 1, Lake Crescent, Colombo 2, new name plaques were unveiled by the Chairman , Capital Reach Group, Ajith Nivard Cabraal.

Ajith Nivard Cabraal was a director of Capital Reach Holdings, Capital Reach Credit and Capital Reach Leasing. He resigned with effect from November 26, 2005 to take up political postings and appointed in his place his wife Roshini Sunethra Cabraal, also a director at Cabraal Consulting Group Pvt. Ltd. Nivard Cabraal is also a director of the Cabraal Consulting Group.

The secretaries for all three Capital Reach companies are Vanik Corporate Services Ltd. of 131, W.A.D. Ramanayake Mawatha, Colombo 2.

Meanwhile, Capital Reach Holdings has 5,100,000 shares in Capital Reach Credit Pvt. Ltd. and 2,900,000 shares in Capital Reach Leasing Ltd.

So the three companies are inextricably linked to each other and very much a part of Nivard Cabraal and his business concerns.

On the subject of Capital Reach Holdings Ltd., one is compelled to note that while it acquired the majority shares of Vanik, the company itself was incorporated only on April 21, 2005. Suntex began buying into the company just nine months later.

Aegis and Harry J

However, there are other majority shareholders in Capital Reach Holdings that are infinitely interesting in the business world. That is a fund management company called Aegis Fund Management Pvt. Ltd., which was allotted 2,500,000 shares in Capital Reach Holdings Limited on June 26, 2005

Interestingly enough Aegis is owned by Distilleries Company of Sri Lanka Ltd., of which of course the majority shareholder is none other than Harry Jayawardena - the controversial business tycoon and lord of the Stassens Group of Companies.

Before we go any further lock that information in as well for future reference. We promise you a circus ride, though it is the public that are taken to be the clowns.

Now let us look at the company Ferntea Limited. Ferntea reportedly has an office in Malaysia in the Malaysian Hotel where Quest International held one of its major recruitment meetings in May this year.

In fact Shymica Marcelle Fernando, one of the directors of Ferntea, was to reportedly tell a journalist of the Wijaya Group taken as part of the promotional junket by Gold Quest that Ferntea put up a tea stall especially for the international conference held by QI in May this year. Nimal Bopage, a lawyer, was reportedly also in the company of some of the journalists while Sri Lanka's Ambassador to Malaysia, R.D. Cassie Chetty was an honoured guest at the conference and was seen speaking with the young Sri Lankan recruits almost until midnight.

It is a shame that Sri Lanka's diplomats were unaware that QI was a company being currently investigated by the Central Bank of Sri Lanka.

Be that as it may, now let us turn to the composition of Ferntea Ltd. yet again. We give below the directors as at July 22, 2005:

(1) Kunaseelan Senathirajah appointed on September 29, 2005. He is also a director of Suntex IHL

(2) Richard E. Zinkiewicz, also managing director Gold Quest International

Alternate Director John Challen, a British Lawyer

(3) Deepak Korla (Indian), Manager, Suntex IHL from September 26, 2005

Alternate director Joachim Kurt Steffen (German), Manager, Suntex IHL

(4) Pushpam Appalanaidu (Malaysian), accountant, Suntex IHL from September 26, 2005

Alternate Director Magandran S. Rajadurai (Malaysian), accountant, Suntex IHL

(5) Jakob Mayer, no alternate

(6) Jayantha S.Fernando

Alternate H. Joseph Chrishantha Perera

(7) V.J.L.C. Fernando

(8) Shyamica Marcele Fernando appointed with effect from June 12, 2000

(9) Nirmal Anura Fernando appointed from June 27, 2005, also company director, Rhythm Collections Pvt. Ltd.

As we can see, Ferntea has been possessed by Suntex IHL which of course is none other than Gold Quest. Suntex in fact bought up a 50 percent stake of Ferntea as part of its expansion plan into tea and leisure business.

Not only that, you will see that most of the directors of Suntex are in fact directors also of Quest Net Ltd. That is Jakob Mayer, Kunaseelan Senathirajah, Magandran S. Rajadurai, and Joachim Kurt Steffan.

Anura Fernando

Anura Fernando, aside from being Nivard Cabraal's good buddy, is also the joint shareholder with his wife and director of Rhythm Collection Pvt. Ltd., which is the local agent for Gold Quest. (See The Sunday Leader of June 4)

Fernando now becomes the CEO of Ferntea by virtue of the fact that Suntex (read Gold Quest) owns 50% of its shares. In an interview with this writer, Fernando confirmed that Suntex had invested heavily in two local companies. One was Capital Reach Credit Ltd. The other was Ferntea.

Surely then Cabraal as a self-proclaimed top economist must have done his due diligence on the companies before he did business with them. If he did not, his claims as an educated and astute businessman must be called into question; if he did and still went ahead knowing who they were, then shame on him, and Cabraal must resign from government.

Money laundering

Furthermore Cabraal as a foremost financial advisor to Rajapakse no less, should be doubly aware that not only does the Gold Quest marketing style fall within prohibited schemes under Section 83 (c) of the Banking Act as amended in February 2005 but more importantly it falls within the definition of 'unlawful activity' in terms of the Prevention of Money Laundering Act No. 5 of 2006 and the Financial Transactions Reporting Act No. 6 of 2006.

In fact the very institution that Cabraal wants to head, the Central Bank itself, has since July 2005 and even as recently as May 7, 10 and 28 extensively advertised in the Sinhala and English newspapers against these pyramid schemes and other prohibited schemes re-emerging in the guise of network marketing, multi level marketing and referral schemes particularly in the rural areas.

One cannot imagine that Cabraal who claims to be the foremost chartered accountant in Sri Lanka and an Eisenhower Fellow and now stands as a top bidder for the post of Central Bank governorship would be so na‹ve as to be unaware of the very investigation conducted by the Central Bank itself and indeed going on in front of his face even as he now sits in his office in the Central Bank building advising Rajapakse on the one hand on finance, and planning and implementing on behalf of the President and Keheliya Rambukwella on the other.

Nivard's hypocrisy

On June 8, that is four days after The Sunday Leader expos‚, Nivard Cabraal was to tell the state media in what can only be seen as absolute hypocrisy and double-speak that he was against pyramid schemes and that there was a need to take stringent measures to prevent the spread of such rackets in Sri Lanka. He states that he emphasises in the media the need for the Central Bank to make the public aware of such schemes.

Ironically, while doing roaring business together with Gold Quest through its front company Suntex, Cabraal in a bid to outsmart the investigators no doubt, reportedly says, "If a company like Gold Quest invests in the companies listed in the Stock Exchange, the relevant authorities should find out where that money comes from."

Pray, is not Cabraal one of the relevant authorities, being a financial advisor to the President and a Central Bank governor hopeful? And why, pray, is this very relevant authority in the form of Ajith Nivard Leslie Cabraal still doing business with Gold Quest and accepting fully paid trips to Monaco by them for himself and his children as recently as May if he is against pyramid schemes?

Accepts Monaco invitation

In fact the significance of accepting the Monaco invitation (see last week's The Sunday Leader) is that Gold Quest corresponded with him in his official capacity sending their letters to the Central Bank of Sri Lanka.

However, Cabraal was no dummy. He decided to make visa arrangements, etc., through Anura Fernando and sent faxes in his personal capacity through his family concern, Cabraal Consulting Group. Surely if Cabraal had nothing to hide, why did he not reply in his official capacity as well? (See The Sunday Leader of June 4 and boxes elsewhere on this page)

As this newspaper revealed last week, Cabraal accepted an invitation by Gold Quest for an all expenses paid luxury trip to Monaco to witness the Formula One Grand Prix just two weeks ago in May. On April 27, Cabraal received a formal update and programme review of the Grand Prix to be held May 25-28 by Quest International (see copy of letter elsewhere on this page).

Taking over nations

There is serious concern among economic experts that black listed companies may be trying to take over the economies of countries like Sri Lanka.

In fact there is concern that money launderers could not only make deposits in banks but due to poor due diligence could even take over whole banks by entering a country through its stock exchange. Unfortunately experts say anti money laundering laws focus on deposits where for instance a bank has a right to ask questions on the origins of the deposit to find out if it is genuinely earned.

However, the financial regulatory infrastructure in Sri Lanka is not strong enough to lend itself to what the acts like the Money Laundering Act of 2006 and the Financial Transactions Reporting Act of 2006 are actually required to do. Therefore the very anti money laundering laws that are in place to fight terrorism, criminal funding and companies such as Gold Quest are rendered nugatory by loopholes within the system itself.

Experts say that in Sri Lanka money launderers and internationally listed companies like perhaps Gold Quest have a window of sinister opportunity. Especially through the country's stock exchange and even the Board of Investment where the focus is more on investment and economic activity for public consumption, rather than due diligence of foreign investor companies.

Therefore, such companies for instance need not merely make deposits in banks they could try to take over the bank itself. In any event economists say that most of these deposits usually come via foreign banks which have international regulations in place but are nonetheless vulnerable to such large deposits. There is no government mechanism or central filtering agency to screen these companies while their close nexus to the politicians of the day make the due diligence process even more difficult.

Gold Quest bid to take over NDB

It is in this context that the goings on at the National Development Bank (NDB) become vital. The NDB has been wary of many companies that have tried to register large numbers of shares and is currently involved in investigating each of these individuals and companies.

Meanwhile, The Sunday Leader in independent investigations learnt that the government of Sri Lanka owns 21 % of the shares of NDB with the Bank of Ceylon owning 14 % of the government share and the Secretary Treasury, Employees Trust Fund and Employees Provident Fund holding the rest.

According to the Companies Act and Commercial Banking Act as it stands today, a single shareholder cannot own more than 10 percent. Accordingly the NDB also has the following shareholders:

(1) A global fund manager, Aberdeen, through an aggregate of funds has 9.5 %

(2) Renuka Group and Ravi Thambiayah through different entities such as Cargo Boat Dispatch, Renuka Hotels, Lancaster Holdings, etc., hold 9.7% of NDB shares. Ravi Thambiayah in fact is the brother-in-law of Nivard Cabraal. Ravi is married to Nivard's sister.

The Renuka group also has a considerable stake in Capital Reach Credit Ltd. When Cabraal was questioned on the shareholders of Capital Reach Credit by this writer he said thus:

Q: Anura Fernando is also a director of Capital Reach credit?

A: Yes, But there are many shareholders. MAS Holdings, Readywear, Renuka Hotels, Suntex - so many companies and industries.

Thus, Nivard Cabraal is also linked to the NDB by virtue of the fact that his brother in law's family Group, Renuka owns 9.7% of the shares.

(3) Another international fund manager, First State has some 6% shares

Interestingly enough, now NDB has refused to register the shares of the following persons / companies. These companies are suspected to be fronts for Gold Quest and reliable sources confirm that the NDB is suspicious that Gold Quest is moving to take over the bank. Indeed, Gold Quest has almost 30 % shares to its name through front companies and individuals as of now. They are as follows:

(1) A.P. Jagaiah - 9.3% shares which the NDB has refused to register

(2) Fast Gain International Ltd. - 9.9 % shares, again the NDB has refused to register.

(3) Another suspicious account is Credit Suisse, which has bought 9.5% shares through nominee accounts and which shares too have not been registered by NDB as yet.

NDB sources told this writer it was not only the bank as an entity but the senior management personally that felt threatened by this bid by Gold Quest to take over the bank through mystery nominees. However, NDB is conducting extensive investigations into potential shareholders before registering their shares and even requesting fund managers who usually are not required to disclose details to in fact disclose their shareholders in order to approach the investigation evenhandedly.

Aegis

Recall now the name Aegis Fund Management Pvt. Ltd. The company is an entity of the Stassens Group and is owned by Distilleries Company of Sri Lanka Ltd. of which of course the Stassens Group is the major shareholder.

Aegis Fund Management Pvt. Ltd. has been set up to manage the life fund of Sri Lanka Insurance Corporation Ltd. (SLIC) which is also a part of the Harry Jayawardena empire. According to sources, a fund manager should not be involved in holding major shares in companies. It is thus quite shocking they say that Aegis now holds 2,500,000 shares in Capital Reach Holdings which is controlled by Cabraal and the Gold Quest front company, Suntex.

Meanwhile it is also learnt that SLIC-general fund has a 3.66% shareholding of NDB. However banking sources said that the shares of NHB and Stassen group in NDB apart from the SLIC percentage, is negligible.


Nivard to be investigated

Following The Sunday Leader investigation last week, the CID and Central Bank special investigators have now decided to investigate the dealings of Nivard Cabraal and his connection to Gold Quest.

However, it is anyone's guess how far the investigation will be allowed to go ahead without political interference and sans political influence being brought to bear upon the Central Bank investigators who after all depend on the government for their bread and butter.

Therefore it becomes imperative that President Rajapakse strengthens the hand of the investigating unit of the Central Bank and gives them the confidence to go ahead and investigate Gold Quest and its dealings in Sri Lanka irrespective of who may be involved.


Minister told to meet secretary's secretary

It is Nivard's arrogance that seems to have irritated many a government minister. UNP pole-vaulter Keheliya Rambukwella was no different. Keheliya as non-cabinet minister for the Plan Implementation Ministry is in fact Nivard Cabraal's minister.

But Cabraal, chartered accountant par excellence, was not about to allow himself to be summoned by anybody.

Keheliya, however, not a man given to too much arrogance and not wanting to pull rank having known Nivard from their days in the UNP as well, was to telephone Cabraal and politely ask him whether he (Keheliya) could come and meet him, Nivard.

Mind you, the Minister was only asking for an appointment to meet Nivard even though as the Minister, he could rightly have summoned Nivard to his presence.

Nivard was to however retort that he was far too busy and told Keheliya to meet his (Nivard's) secretary instead.

Rambukwella was to repeat this curious episode to President Mahinda Rajapakse's brother Basil Rajapakse, who was to tell Rambukwella not to take any notice of Nivard as he is a bit of a fool ("eya pissek").

Anura Fernando link

As we said last week, Nivard Cabraal is also linked to the pyramid schemes through a local man of dubious reputation called Anura Fernando. Fernando is also the local agent for Gold Quest and the joint shareholder with his wife of Rhythm Collections Pvt. Ltd., the local front company for Gold Quest. (See last week's The Sunday Leader)

Nivard and Anura Fernando go back a long way. Possibly well over 25 years. In fact it is Nivard Cabraal who was to take Anura Fernando, businessman, to meet President Mahinda Rajapakse during the presidential campaign last year.

In a lavish party thrown for all those loyalists who helped in the presidential campaign following Rajapakse's victory in November 2005, Nivard Cabraal who hosted the gig was seen in a jolly mood together with Anura Fernando at the Mt. Lavinia beach soon after the election.


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 Post subject: Nivard Cabraal New Central Bank Governor
 Post Posted: Wed Sep 20, 2006 12:36 am 
Nivard Cabraal New Central Bank Governor

@ The Island / 23June2006

President Mahinda Rajapkse yesterday appointed Ajith Nivard Cabraal the new Governor of the Central Bank

Ajith Nivard Cabraal is the new Governor of the Central Bank of Sri Lanka. He was appointed by President Mahinda Rajapaksa yesterday.

Up until his appointment as Governor today Mr. Cabraal acted as an Adviser to President Mahinda Rajapakse on Economic Affairs and as Secretary to the Ministry of Plan Implementation.

He held the same post as Adviser on Economic Affairs to President Rajapakse during his tenure as Prime Minister. Cabraal was closely associated in the development of the "Mahinda Chintana" which currently serves as the Policy Framework and Development Plan of the Government.

The Ministry of Plan Implementation is entrusted with the responsibility of implementing the "Mahinda Chintana" in the country over the next six years.

Cabraal also serves as a Member of the Board of the Strategic Enterprises Management Agency (SEMA) which is responsible for the supervision of the 20 most important public institutions of the country, including the State Banks and Public Utilities (Electricity, Petroleum, Water, Railways, Road Transport, Ports, Airports, etc.)

He was also a Member of the Government Team that participated at the Geneva Talks with the Liberation Tigers of Tamil Eelam in February 2006. Cabraal also represented the Government in the Millennium Challenge Fund negotiations with the US Government.

Cabraal is an Eisenhower Fellow and was an internationally recognized Consultant in Corporate Governance. He was the Founder Chairman of the Corporate Governance Committee which developed the Code of Best Practice on Corporate Governance in Sri Lanka. He also served as the President of the Business Recovery and Insolvency Practitioners Association of the Sri Lanka. He is a past President of the Institute of Chartered Accountants of Sri Lanka, South Asian Federation of Accountants and St. Peter's College Old Boys Union.


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 Post subject: GoldQuest controversy takes new turn
 Post Posted: Wed Sep 20, 2006 12:40 am 
Sri Lanka GoldQuest controversy takes new turn with Central Bank denial

19 September 2006
@LBO


Sept 19 (LBO) - The controversy over the sudden recall of police investigators probing the GoldQuest scheme took a new turn, with the authorities denying that the move would affect an ongoing anti-pyramiding drive.

The withdrawal of the police investigators from the bank's unit investigating pyramid schemes will not affect ongoing investigations, the Central Bank of Sri Lanka said in a statement Tuesday.

The three officers, who were seconded from the Criminal Investigation Department (CID) of the Sri Lankan police, were involved in investigating the GoldQuest scheme.

Sections of Sri Lanka's media had earlier warned that unit's activities may be hampered after the appointment of Nivard Cabraal to the post of central bank Governor, whose family company, Capital Reach, is allegedly funded by a firm connected to Goldquest.

Sri Lanka's opposition called for a parliamentary inquiry over the issue, when Cabraal was appointed.

However, Cabraal has denied any wrong doing saying he was against pyramid schemes.

The Special Investigations Unit (SIU) in which the three officers were working, was established in 2005 to deal with unauthorized deposit soliciting institutions, pyramid and multi-level marketing operations spreading in the country.

"Three Investigating Officers were released by the Police Department at the time of setting up this unit to facilitate these investigations," the Central Bank statement said.

"After a year of operations, the IGP (Inspector-General of Police) has requested that these officers be released so as to revert them to their substantive duties in the Police Department in view of urgent national needs."

The Unit’s investigations had resulted in the arrest of several GoldQuest activists under the country's anti-pyramiding laws.

"Consequently, the on-going and pending operations of the SIU have been handed over to the respective departments in the Central Bank," the bank statement said.

"Such departments will continue to handle these operations with the assistance of Police investigation units, whenever found necessary."

But, the bank says the change would not affect ongoing investigations.

"Accordingly, the administrative restructuring arising out of the release of the Police officers would in no way jeopardize any on-going investigation, nor would it dilute the commitment of the Central Bank in its efforts to effectively deal with unauthorized deposit soliciting or multi-level marketing and pyramid operations," the bank said.

"Hence, any suggestion or claim that on-going investigations have been discontinued and that any illegal activity would be left unchecked is misleading.


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 Post subject:
 Post Posted: Sun Sep 24, 2006 6:02 pm 
Offline

Joined: Sun Sep 24, 2006 5:55 pm
Posts: 1
can anyone give me the e.mail id of this anura fernando ?


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 Profile  
 
 Post subject: Central Bank resumes GoldQuest probe
 Post Posted: Thu May 17, 2007 2:39 pm 
Central Bank resumes GoldQuest probe

GoldQuest over the last three years has been constantly trying to puff –up its image in Sri Lanka. More than two years ago GoldQuest hired public relations firm Rowland PR to handle its PR but the latter quit over some issues. Earlier this year, the reporters being offered to fly to Malaysia to interview GoldQuest founder! But that didn’t materialise. The GoldQuest founder, Vijayeswaran S. Vijayaratnam, was arrested in Jakarta on May 3, 2007, during a probe in a nine year old case.

By Duruthu Edirimuni
@ Sunday Times, May 13, 2007


The Central Bank has resumed investigations into the GoldQuest multi level marketing (MLM) business amidst reports that Vijayeswaran S. Vijayaratnam, Group Managing Director of Quest International (QI) which owns GoldQuest and whose business interests in MLM activities here have been swirling in controversy, was arrested in Jakarta on May 3.

Central Bank sources told The Sunday Times FT that the inquiry into the GoldQuest’s case that was closed somewhere in the second half of last year was resumed by the regulator some months ago.

“We started investigating the GoldQuest activities and their dealers since the end of 2004 and was carrying out our duties up to last year, but with the appointment of the new Governor, Nivard Cabraal, the investigations were halted,” one source said.

Vijayeswaran, 40, considered a demi-god by employees in some countries where his operations exist, was arrested at an international event at the Jakarta Convention Centre along with three of his Filipino partners.

A separate probe into Ferntea Ltd (one-time couriers for GoldQuest products into the country) where the regulator was investigating the foreign holdings of the company and alleged exchange control fraud has also begun by the Central Bank.

He said that Anura Fernando, presently the Managing Director of Ferntea who ousted the chairman and main shareholder of the company, Jayantha Fernando when he acted in concert with Suntex International Holdings Limited, a GoldQuest company, was called to give evidence at the Central Bank regarding foreign holdings of Ferntea. He said these foreign holdings were traced to GoldQuest through its subsidiary, Suntex International Holdings Limited.

Anura Fernando, who is in London at present, confirmed the probe to The Sunday Times FT via telephone. “I was called to give evidence regarding foreign holdings pertaining to Ferntea Ltd,” he said. When asked whether he was aware of Vijayeswaran’s arrest, he said that he was not ‘aware’ of it. “I am not aware of it, but I saw it in the newspapers,” he said.

He said Vijayeswaran is not ‘directly’ involved in Ferntea. Forty-eight percent of Ferntea was acquired by Suntex in May 2005 and the balance was brought thereafter.

Fernando also said that Vijayeswaran's arrest has no bearing on Ferntea as the latter is not directly connected to the company.
When The Sunday Times FT contacted the Central Bank Governor Cabraal regarding the matter he said that the Central Bank is aware and has taken stock of the arrest. “The Central Bank has noted Vijayeswaran’s arrest,” he responded without giving details.

A top stock market regulatory official said that the arrest will have a bearing on GoldQuest dealings in Sri Lanka, but it is a moot point whether it will be investigated by the authorities.

“This arrest may warrant further investigation for the respective division in Sri Lanka, which is the Financial Investigations Unit (FIU) dealing with pyramid schemes, terrorist financing and anti-money laundering activities,” he told The Sunday Times FT.

GoldQuest over the last three years has been constantly trying to puff –up its image in Sri Lanka. More than two years ago GoldQuest hired public relations firm Rowland PR to handle its PR but the latter quit over some issues. Earlier this year, another Colombo PR firm was asked to organise an interview with Vijayeswaran with the Sri Lankan media as a GoldQuest-boosting event with the reporters being offered to fly to Malaysia to interview him! But that didn’t materialise.

Newspapers said Vijayeswaran is alleged to be involved in an MLM company with branches in South East and East Asian countries, where it produces limited edition coins and medals, jewellery and timepieces sold through network marketing.

Indonesian news agency Antara quoted the Indonesian police as saying that the four arrested were on the wanted list in the Philippines for a US$ 90 million fraud and Hong Kong for MLM scams.

The GoldQuest founder was arrested during a probe in a nine year old case. NST online, a Malaysian website said that his company in Malaysia called Gold Quest International had a run in with the law in 2000. “The company’s country manager, Tony Teoh Boon Sir was charged with operating a direct selling company without a valid license. It is learnt that the charge, filed by the Domestic Trade and Consumer Affairs Ministry was dropped several years later,” the newspaper reported.

Meanwhile QI Group Director of Finance, Richard E. Zinkiewicz has issued a statement in conjunction with the arrest saying that there had not been any hearing in any count on the entire merits of the case against any of the individuals.


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 Post subject: Sri Lanka warned to be vigilant
 Post Posted: Thu May 17, 2007 2:50 pm 
Sri Lanka warned to be vigilant against pyramid schemes following arrest of Goldquest leaders

"Endless chain schemes have almost mystical power over people. They arouse hope, passion and confusion. They promise 'unlimited' income, an almost divine power," "These are not sales companies, but money transfer schemes that require a huge loss rate based on their designs." - Robert Fitzpatrick, head of the US-based Pyramid Scheme Alert

@ LBO / 16 May 2007

May 16, 2007 (LBO) – An international anti-pyramiding activist has called on Sri Lanka to be vigilant against multi-level marketing schemes that can invade the country following the arrest of top Goldquest operatives in Indonesia.

"Treasure Traders International and, more recently, Canadian Diamond Traders, are similar scams that are recruiting victims worldwide," Robert Fitzpatrick, head of the US-based Pyramid Scheme Alert told LBO.

"I hope that Sri Lanka can maintain its vigilance against these scams, despite their false claims about being legitimate 'sales' companies.

"These are not sales companies, but money transfer schemes that require a huge loss rate based on their designs."

Cult Sell

Some analysts have calculated the loss rate of the double-pyramid 'binary compensation' structure used by Goldquest to be as high as 98 percent, indicating that only 2 percent of the participants make money.

Its products are sold through intensive selling meetings where people are repeatedly given the same message until it is ingrained in their brains in a cult-like fashion.

Goldquest's Quest International (QI) group Chief Executive Vijayeswaran Vijayaratnam is said to be held in 'demi-god' status by his follows.

"Endless chain schemes have almost mystical power over people. They arouse hope, passion and confusion. They promise 'unlimited' income, an almost divine power," Fitzpatrick said in a presentation made when he visited Sri Lanka for a regional central bankers conference against pyramiding.

"Promoters can take on god-like authority and power, since they hold the reigns to this mystical power."

Classic Model

Goldquest's main website now goes as Qatana.com. The firm claims to sell 'numismatics' but its main products are medals.

"Gold Quest claims to be an ordinary multilevel marketing program of the types that are operating openly in the USA and other countries," Fitzpatrick has said earlier on a notice posted at www.falseprofits.com.

"Its business model is a classic MLM program in which each new investor recruits others in an 'endless chain.'

"Little actual retail selling occurs. Each 'distributor' is also the 'customer'," he adds.

News reports from Indonesia said the firm had misused the image of former President Abdurrahman Wahid to recruits his follows into Goldquest schemes.

Previously images of religious leaders, the Pope, Mother Theresa as well as Benigno Aquino had been used to make medallions, which were then sold as 'coins'.

Goldquests activities have been banned in several countries, including, Bhutan, Nepal, Iran and Nepal and its officials arrested.

Arrest Quest

Last week, the public face of the organization, Vijayeswaran Vijayaratnam, director Joseph Luis Tomacruz Bismark, and two other senior executives, Donna Marie Glen Imson and Tagumpay Pablo Perez Kintanar were arrested in Indonesia.

The Goldquest kingpins were believed to have been arrested following an MLM upliners' promotional conference called V-Jakarta. The scheme's top promoters are labelled the V-Team.

In 2003 Imson had been arrested in Nepal after conducting a promotional conference together with an Indian national, Tanbir Nijam, according to Nepalese media reports.

Chennai police have also previously arrested Goldquest officials.

The Indonesian arrests stemmed from an Interpol request on a warrant related to a fraud in the Philippines.

"One of the complainants lost $625,000 to the suspects," ABS-CBN News of the Philippines said.

"The suspects went into hiding after a manhunt was launched against them. Interpol also placed them in its wanted list."

International Web

ABS-CBN News quoted Ric Diaz, regional director for criminal intelligence at the National Bureau of Investigation as saying that GoldQuest International, were able to victimize people across Asia adding that the suspects had offices in the region's financial districts.

Interpol also lists Georg Kurt Rocco Rinck as a wanted man, who activists say is the brains behind Goldquest's binary compensation plans.

However in the past Goldquest operatives had somehow managed to get loose whenever they were arrested.

Though Sri Lanka brought an anti-pyramid law to combat Goldquest and even arrested 7 of its upliners, the unit that investigated Goldquest was later disbanded amidst much controversy.

Fitzpatrick says MLM scams "corrupt local officials by offering them a position 'at the top' to gain entry into a chain."

But this week Sri Lanka's Sunday Times said the central bank has resumed investigations into Goldquest, though no mention was made of the progress of the case against operatives caught earlier.

Goldquest has also been channelling money in to Sri Lanka's equity markets without any official action against them so far, though investee firms, especially banks like NDB, have waged a lone battle with whatever means at their disposal to block Quest International (QI group) related purchases.

Sri Lanka now has anti-money laundering legislation in place.

Meanwhile reports said a team of ten police officials were due to fly to Indonesia to bring back the arrested Goldquest leaders, but the company's lawyers were fighting extradition.


Top 
  
 
 Post subject: CID interrogates Sonali Samarasinghe
 Post Posted: Thu May 17, 2007 2:59 pm 
CID interrogates Sonali

“The CID wanted me to tell the manner in which I conducted my investigations for my reports, the sources of my information and the officials that I spoke to and those who helped me to obtain documents that referred to the Central Bank governor’s directive” - Sonali Samarasinghe

@ Daily Mirror/ Thursday, May 17, 2007

The CID yesterday questioned ‘Morning Leader’ Editor Sonali Samarasinghe for more than five hours over a series of investigative reports she had written for ‘Sunday Leader’ and ‘Irudina’ newspapers. Her reports spotlighted directives by the Central Bank governor to stop the investigation into the activities of the controversial numismatics outfit GoldQuest.

Ms. Samarasinghe told Daily Mirror last night the CID team had come to the newspaper office around 9.30 am and the interrogation had gone on well past 2 p.m.

“The CID wanted me to tell the manner in which I conducted my investigations for my reports, the sources of my information and the officials that I spoke to and those who helped me to obtain documents that referred to the Central Bank governor’s directive” she said.

“We see this as part of the moves to intimidate media into silence and also posing threats of prosecution to public officials who provide information to the media,” the Morning Leader editor said.

When she refused to divulge these details, the CID officials warned they might have to take the matter to Magistrate courts.

Expressing grave concern over the questioning of Ms. Samarasinghe, the Free Media Movement (FMM) in a statement yesterday said it was disturbed by the manner in which the CID attempts to “encroach” and “seriously erode” media freedom.

“This is not the first occasion in which the Police have taken to questioning journalists for pursuing stories that are perceived by those in power to be off limits to media acting in the public interest. This is also not the first occasion that journalists have been intimidated by the Police with requests made to reveal their sources. Ms. Samarasinghe’s right to publish information as she sees fit in her capacity as a professional journalist, is no exception to the cardinal rule of the freedom of expression enjoyed by all citizens, a vital cornerstone in media freedom” FMM said.

“GoldQuest stands accused of operating a form of highly suspect pyramid-scheme in some of the world's poorest countries. The company, which was based in Hong Kong, sold ‘commemorative’ gold and silver coins and people were encouraged to gain commission by getting more people to sign up. In early May this year, the Jakarta Post in Indonesia reported that Quest International (QI) group Chief Executive Vijayeswaran Vijayaratnam, Director Joseph Bismark, and two other senior executives, Donna Marie Imson and Tagumpay Kintanar were arrested by the Indonesian police” the FMM statement said.


Top 
  
 
 Post subject: Re QI Vijay Eswaran's arrest in Jakarta
 Post Posted: Mon Jun 04, 2007 9:00 am 
Offline

Joined: Mon Jun 04, 2007 8:47 am
Posts: 1
Regarding Datuk Vijay Eswaran, you can read more about him & his products in this blog:

http://www.monsterblog.com.my/2007/05/0 ... /#comments

Full text -

Another Datuk in hot soup
Posted on 07 May 2007 by Suanie


Yesterday NST reported that an unnamed Datuk has been arrested in Jakarta for multi-level marketing (MLM) scams ( story link ). According to the news report, the MLM company ‘produces limited-edition coins and medals, jewellery and timepieces sold through network marketing.’


Today the Datuk has been named…

Datuk wanted in RM308m fraud case
By : Alang Bendahara

Businessman Datuk Vijayeswaran S. Vijayaratnam, who was arrested in Jakarta last week, is wanted in connection with a US$90 million (RM308m) fraud case in the Philippines.

Indonesian police are co-ordinating with their Filipino counterparts to extradite him to Quezon City where a warrant of arrest has been issued against him for a nine-year-old case.

The warrant is for fraud and conspiracy, according to the Interpol website.

The 46-year-old is the group managing director of QI Limited, which is based in Hong Kong with branches in 30 countries from Australia to Brazil. Its regional office in Malaysia is in Petaling Jaya. ( Story link )

I wonder how this will turn out. After all as the peribahasa goes, ‘kalau tak ada angin, pokok tak akan bergoyang’. What other idioms can you think of?

(As this is an on-going investigation, please be civil and not make unwarranted or unfounded remarks or statements in the comments. Thank you.)

*COMMENTS ARE NOW CLOSED FOR THIS POST*

Technorati Tags: datuk, datuk vijay, MLM, qi, qi limited, qi ltd

Posted in: Front Page

Author's web site: http://www.suanie.net


Comments (90) -> “Another Datuk in hot soup”
richard
08 May 2007 03:35 1Peribahasa?: How about “Innocent until proven guilty”

Also do include the balance of the article:

It is learnt that the charge, filed by the Domestic Trade and Consumer Affairs Ministry, was dropped several years later.

Last night, QI group director of finance Richard E. Zinkiewicz issued a statement on the arrest of Vijayeswaran and three others, saying that to date, there had not been any hearing in any court on the entire merits of the case against any of the individuals.

“The case is currently pending further determination before the Court of Appeal in the Philippines.

“We wish to reiterate that the case is in no way related to the business activities of any of the companies of the group.”

He also claimed that the issues relating to the matters reported, including in respect of Indonesia and one of QI’s businesses, had been overstated and inaccurate.

“We are certain that in due course, the truth will unfold and all events will be presented in their correct perspective as opposed to the regrettable manner in which they have currently been stated.”

Zinkiewicz also confirmed that the company and its representatives were co-operating fully with Interpol in Indonesia on the matter.

Suanie
08 May 2007 09:14 2News update:

Gus Dur lodges report against Vijayeswaran

“[…]The report was lodged yesterday against Vijayeswaran and others for fraud and embezzlement. He added that this was a crime under article 370 and 372 of the Criminal Code.

Vijayeswaran and his colleagues had tried to cheat Gus Dur during his term in office from 1999-2001, offering to print gold coins bearing his picture and that of his grandfather, Hasyim Asyari.

But Gus Dur never gave them permission to use either his own picture or that of his grandfather, a highly-revered ulama who founded the country’s largest Muslim organisation, Nahdlatul Ulama (NU) which claims 40 million followers.

Vijayeswaran and his partners allegedly used his multi-level marketing network to solicit funds from NU followers by offering to sell them gold coins bearing Gus Dur and Hasyim Asyari’s pictures.

Some of the NU followers paid deposits to Vijayeswaran’s network while some had paid the full price. The coin could cost anything from five million rupiah (RM1,900) to 100 million rupiah, said Ikhsan.

Vijayeswaran company’s continued to solicit funds from the public even after Gus Dur stepped down as president, he added.

According to Ikhsan, many of the NU followers did not receive any gold coins after paying up.”[…]

Rain
08 May 2007 17:39 3Wow even Gus Dur is so dumb. Goodness he was removed from the presidency.

Terence
08 May 2007 20:11 4Perhaps QI in Malaysia is operating a product-based pyramid scheme (see explanation - http://www.amquix.info/product_pyramid.html)instead of a genuine MLM business as its most popular product, the Bio Disc, a round palm-sized concave glass device which is touted as a cure-all for various ailments but without FDA approval, is sold at an unusally high price. Perhaps the Trade Ministry should look into the company’s MLM marketing plan as well as find out why its products should be so expensive.

Suanie
09 May 2007 09:24 5News update:

NST’s exclusive interview with Datuk Vijayeswaran

“KUALA LUMPUR: “This is the most challenging time of my life.”

Embattled Malaysian businessman Datuk Vijayeswaran S. Vijayaratnam, who is now being held in a Jakarta lock-up, told the New Straits Times in an exclusive interview that “I have embraced this challenge.”

Replying to questions channelled through QI Limited group director of finance Richard E. Zinkiewicz, Vijayeswaran said he was sure he would be found innocent.

“My wife and I are confident we will come through because the truth will always shine.”

He thanked the many supporters who have offered prayers for his speedy release.

“I believe God tests hardest the ones he loves the most.

“All over the world, my friends have been sending me messages of support through my people here.”

Vijayeswaran said he was being treated well by his Indonesian jailors.

The 46-year-old group managing director of QI Limited is, however, not only depending on divine intervention to get him out of the pickle he is in.

His lawyers said they had lodged a police report against a consultant, a woman, who they accuse of manipulating a contract between Vijayeswaran and Gus Dur.

The woman was a former director of PT GoldQuest Indonesia, a subsidiary of QI Limited.

The lawyers said the woman was hired as the consultant in the deal to mint coins with the picture of Gus Dur and his grandfather, Hasyim Asyari, the founder of the country’s largest Muslim organisation, Nahdlatul Ulama (NU).

It is learnt that Vijayeswaran’s lawyers have copies of the contract which was signed by the Malaysian businessman and Gus Dur on May 2, 2003.”

Kevin
09 May 2007 13:38 6Amquix is Amway, a disgrunted competitor of QI, of course la find this opportunity to taruh kau kau its competitor that is taking away lots of its business. QI is the 1st network marketing company in the world to be allowed to operate in Singapore, even paving the way for Amway to eventually set up operations there. I believe Amway has to change some of its procedures on commission payment as it resembles pyramid schemes. Go figure…

Tanglimara
09 May 2007 18:24 7The whole thing smells fishy to me. Something is not right here.

How can a country issue a warrant of arrest when there is no charge has been filed ?

Jim
09 May 2007 23:18 8(Please delete my previous message & replace it with this one.Thanks!).

If one searches the Internet for more info about QI(Goldquest), one will find out that its MLM or pyramid scheme has been banned in countries like Iran, Albania, Bhutan & Nepal. The company has also got itself in trouble with the law in India & Philippines.

bad
10 May 2007 09:06 9It’s definitely a pyramid scheme. Products are just a cover-up. Why would any1 pay sometin like RM2k for a gold coin that’s highly difficult to sell back? It’s obvious all the excessive profits go back to the company…Emphasis on this MLM is again recruitment and not selling of products..

richard
11 May 2007 01:03 10dear jim,

“scheme has been banned in countries like Iran, Albania, Bhutan & Nepal”

call me naive, but I would rather trust the spore and malaysian government then those you just named above…

Jim
11 May 2007 12:01 11Dear Richard:
With the recent unexpected arrest of the four, perhaps it’s also about time for the government to seek expert help & conduct a more thorough investigation of QI’s business to determine whether to renew or revoke the MLM licence granted to them earlier.

angelo
11 May 2007 22:56 12Does QI gold’s got anyhing to do with Yamashita’s gold .there r rumours’s about it . pls answer if anyone knows .

angelo

marie
13 May 2007 14:42 13Why it is an poblem to buy products cheap and sell it expensive ? do you think realy to pay an appropriate price for an watch ??? NO. 50% of the price is marketing. The feeling to be part of the rich people is part of the price. And this is called Business.

A Company try to sell products for an price to peoples the are willing to pay. No Copmpany is holding an gun in the back of the buyer.

That’s just sour grapes if the have poblmes with sucsessfull business mans.

Work harder and you have also the change to be rich.

Lisa
14 May 2007 11:10 1450 per cent of price goes to marketing? Take Bio Disc as an example. Looks like a simple piece of glass. Not independently tested by Food & Drug Administration(USA) or SIRIM (Malaysia). Current regular price - US$520.00 per piece. So is US$260 the real cost of manufacturing it…??? But good news - until the end of this month there’s a special promo price for the Bio Disc. So what is the real cost of manufacturing it…??? Do take a good look at an actual piece of Bio Disc & make a sane judgment.

Jay
15 May 2007 00:14 15Dear All,

What about Lampe Berger? Any comments?

Iskandar
16 May 2007 13:21 16The truth of the matter is this.. “people will buy anything at anyprice, if they see value”.

A computer printer and scanner can be bought for $100, and yet a pair of tiny ink cartridges for the same may cost you up to $200. Thats just marketing, thats just business, and thats just life.

Why would someone pay milions of dollars for a bad painting by some dead guy who cut of his ear because he was rejected by his girlfriend?

Perhaps the biosphere has multiple uses that we don’t know of, maybe it could be used as a paperweight as well, or a decoration in a fish tank, or a magnifying glass when you read the newspaper. Perhaps people are hoping that the company goes under, then maybe the biosphereres may become collectibles as they are no longer available in the market, and could fetch much higher prices if auctioned on ebay.

God alone knows what peoples rationale is when they part with their money, and all I can say is, they usually deserve what they end up getting for it.

Iskandar
16 May 2007 13:23 17Sorry..not biosphere..err..bioscam..oops..i meant biodisc.. whatever!

Clive
16 May 2007 22:44 18GoldQuest, QuestNet, Amway all are crooked Pyramid organisations. These organisers are siphoning Billions of $ from poor countries who do not have strict laws to combat pyramid schemes. Then they use that Pyramid money to launder through stock exchanges of less developed countries. There is strong allegations that part of GoldQuest money is filetered to LTTE terrorists in Sri Lanka. These guys bribe top officials of countries showering millions of $ to not to take actions against them. People beware! Do not allow GlodQuest to operate in your countries. It will make you another Albania!

Clive
16 May 2007 22:48 19Sri Lanka banned GoldQuest when people lost Millions of $ to Quest International’s Pyramid Scheme.

lisa
17 May 2007 09:48 20Iskandar’s comments are soooo funny!!!…ha!ha!ha!

Iskandar
17 May 2007 11:02 21Thanks Lisa, love people with a sense of humour! And honestly, some scams are so obvious one wonders how people get caught in them. Sadly, the one’s who get scammed unfortunately wont be able to share in the hilarity.

I personally love the concept of Network Marketing and have met many people who have made these models work very legitimately and professionally. I suppose it all boils down to doing ones due diligence, before investing huge sums of money or time.

Just the other day there were two Datin’s in an internet cafe sitting next to me who had absolutely no idea what they were doing trying to “invest” in some online Multi Level investment scheme. I can only assume they were doing it at the cafe as they did not want their spouses to know what they were doing. At the same time, Bank Negara is headlining in the papers to urge people not to get involved in these “grey” investment schemes.

I could not help but have a good chuckle inside!

Juanita
21 May 2007 14:35 22I would like to react on the former writter critics. I understand the fear of things which do not sound the usual things we have been use to. Mum always said work hard in school obtain a degree find a job and invest in pension scheme so that when you are sixty you will have a good old age life. It is what most peaople do and what i have been doing. That is the reality offered to 75% of the population. Working from 8a.m to 5p.m, monday to tuesday. Stressed most of the time, cannot even pay yourself a good restaurant food. Take loan to pay for house, car furniture. Pay the loan, buy cheap clothes, food, cars. Could not even finish and furnish the house properly. Yeah that’s the reality of degree holders. You will say that is life and one has to sacrifice to live and you would even say there are poorer people in this world who cannot even eat. You will comfort yourself in this reality to have good conscience of the incapacity of the system to pay. You have stop dreaming because you are face with hard reality and your only goal is to have enough food everyday. You are not living you are struggling, yeah that’s reality. Then one day through quest i got the right to dream. The passion for this life. I am not a yet millionaire, but i started to believe that i can become one and it is not a sin. I work hard it is all about selling, the scheme is the plus which help us to sell. We do not tell any lies the scheme and the payment is all true. the only black point in achieving it is the level of commitment to the business. The business is hard, it not easy money, you have to sell to earn. Quest allow its IR to do either retailing or use the plan to sell the product, we are not stealing. I would like to ask you one thing about price, if you allow me. Have you heard of designer like Channel, christian dior and so on. Do you know that 1g of gold designed by them will cost you 50 times the same 1g of gold designed by the local jewellers. What makes such difference. In quest not allowed product made by Bernhard mayers, his product are great expensive yeah, but i like it and i treat it to the same level as any great designers, it is my right. Who can say that a watch made by Rado costing around $1000 is too expensive, that is the price. You do have sarees (Indian dresses) costing $500, so what. What is wrong in that. Do not fear what is new. Try to see it in different perspective, i do not judge anyone, so do not judge us without knowing, we are not bad people, quest is our passion our hope and we believe in it.

Iskandar
21 May 2007 16:18 23Well Juanita, all I can say is that you do have belief in your product, and the passion to go along with it. These are two essential elements of success in network marketing.

With God’s will you will get your dreams, whether it is through Quest’s business model, or the next one that comes along. Hopefully your business partners will weather the storm, and you will meet others who see the same value in the gold coin business.

I just pray for you that you do not make the same mistake a relative of mine has made, ie the mistake of “poor choice of partners”. He has tried almost 6 different “flavour of the month” MLM’s only to find that the company always seems to fail him (according to him anyway!).

Sometimes it is safer to go with the tried and tested..like Avon, Amway, CNI and the like who get themselves in the news with more positive headlines.

muslimeen
22 May 2007 14:36 24bismillahirrahumanirraheem

i think multilevel marketing is not a business.pls tell about mlm that is fraud or geniune.

Andy Beh
23 May 2007 10:42 25Unlike Juanita, my eyes are not dazzled by dollar signs and I won’t enrich myself at the expense of enriching any criminal suspect whose business resembles that of a pyramid scheme.

cc
24 May 2007 18:52 26did anyone actually use the bio disc?
juanita, i like ur comparison with branded products.

Stevie
25 May 2007 15:31 27If you are riding a bicycle and as you are passing by a bunch of stray dogs, what are the chances the dogs’ gonna chew off your legs? Big fat chance right?

QuestNet is a USD1 Billion turnover company. Obviously it attracts bigger dogs. That’s how “unnamed Datuk” can end up in front page. Isn’t that silly? Shouldn’t that be the first thing to put up? A name. Haven’t they gotten all the facts right before putting up something in the front page? Is front page that cheap nowadays?

Ok ok. Obviously I am with QuestNet. I have been in the business for one year plus now. So far no one died or commited suicide in my network yet? It’s business as usual. Bio Disc, the seemingly overpriced piece of glass is still selling like hot cakes.

Frankly speaking, I was a sceptic too when I first knew about the “expensive glass”. It took me a while to realise how powerful it is. Well, it’s kind of like explaining how salt taste like if you have not tasted salt before. It’s impossible.

I suggest any of you that is interested to find out more, please look for Ms TP +60192312322. She conducts Bio Disc demo every Saturday morning 10am-11.30am at Floor 3A, Amcorp Mall, PJ Tower.

There are only two types of people in this world. One that “judge” before they understand… or we call them “prejudice”. It’s ok to be a sceptic but at least be an informed sceptic. If you already know it all, please don’t go. If you are the other type and you don’t mind finding out how you can save lots of money on medical bills, please go for the demo.

When was the last time you heard of a wellness product that doesn’t require maintenance and can last for at least 15 years. Not only that, if you are a real scrooge, you can share the Bio Disc with your whole village if you want to. The energy from this amazing product just doesn’t turn off and you can’t overuse the Bio Disc! Isn’t that value for money?

Stevie Tan
+6017-8828281
Kuala Lumpur, Malaysia

Brandon
25 May 2007 17:11 28For Stevie -
According to you, it seems that the Biodisc is an amazing invention - perhaps it’s even able to cure a serious illness like cancer or diabetes, right? Does it come with a money-back guarantee? Can you provide the names & contact info of some registered Malaysian doctors who have recommended the product to their patients? Will EVERYONE who uses it experience better health? Are you in better health after having used it for one year plus? Are you & members of your network able to prove conclusively that you have ALL (I repeat, ALL)achieved better health by showing the laboratory results of your blood & urine tests BEFORE and AFTER having used the product? I suggest that a person should take a blood & urine test BEFORE buying the Biodisc (or any other health product) & take another similar test AFTER having used the product a couple of months. And as the Biodisc is touted as an excellent wellness device, Questnet should be confident enough to submit it to SIRIM for evaluation. People will know that the Biodisc is really effective & really safe to use if it has been independently tested & approved and carries the “SIRIM” label.

Brandon
25 May 2007 17:31 29Another question for Stevie -
How can you be certain that the Biodisc can be effective for at least 15 years when it wasn’t invented in 1992 or earlier?

Stevie
26 May 2007 01:36 30Great questions Brandon. You are right, the marketed BioDisc hasn’t been around for more than 15 years but the inventor, Dr Ian Lyons already had the technology for more than 25 years. He made his BioDisc prototype 15 years back and so far, the energy level hasn’t drop. That’s why there’s such a claim that the BioDisc can last for so long.

Technology wise, we are talking about the technology of harnessing “Scalar” energy. (If you need more info on Scalar energy, please visit www.nasa.gov or check out Wikipedia).

Actually, all your concern has been addressed in Ms TP’s product demo. And yes, I have benefitted from this amazing product and of course there are hard proofs from people that has gain from using the BioDisc… if you are referring to medical reports and such.

After the demo, you will understand why and how some people with bad case of diabetes has been released from medications and insulin jabs after drinking the BioDisc energised water in less than 3 months. And how people with 20 over years sinus problem being relieved after using the BioDisc. There are just too many testimonies.

By the way, this product is based on harnessing the natural healing power of nature and it’s against man made medication or drugs. That means people actually stop popping pills after drinking the energised water. Do you think mainstream doctors will go all out promoting the BioDisc? It will hurt their bottom line wouldn’t it?

Once again, I wish I have the ability to explain how saltiness taste like to people that has never tasted salt before in this blog. I doubt I can. If you want to hear the truth from the source, please give Ms TP a call and let her know you will be attending her demo.

One more thing Brandon, if I give you full money back guarantee, will you get the BioDisc now?

Stevie

Brandon
26 May 2007 11:00 31For Stevie -
The reason I brought up the above questions earlier is that some of my personal friends are using the Biodisc right now & none of them are able to say confidently that their health have indeed changed for the better. Maybe some people can derive benefits from using the Biodisc while the majority do not. In a Biodisc demo (I had attended such a demo before), we never get to hear testimonies from those who haven’t benefited from using the product. It isn’t necessary for you to offer me a full money back guarantee as I can always borrow a Biodisc from a friend to try it out myself. Like most salespersons, you seem too eager to sell me a product by offering a personal guarantee while the company does not.

Stevie
26 May 2007 18:50 32For Brandon,
Thanks for your feedback. Appreciate it. I am eager to promote the product because I have done enough research and I have seen it worked. That’s about it. Please do not buy it from me. Do get it from the person that introduced you to the BioDisc.

Frankly speaking, I am one of those that didn’t have much effect from the BioDisc. I am pretty healthy myself. To some people that I have recommended the BioDisc, it is priceless. Given a choice to take medication or drink Bio energised water, I think drinking water makes more sense.

I have been to many BioDisc demo myself. No kidding. At least 50… and I don’t think any of the demo out there is as good as Ms TP’s. Her demo explain exactly how the BioDisc works and more importantly, why some people got results and some don’t… or rather not yet.

Please don’t take my word for it. Go and check it out yourself. I believe she’s having another demo session next Saturday morning @ 10am-11.30am @ Amcorp, PJ. Please call her before going to book a seat. By the way, are you living in KL?

Stevie

Brandon
27 May 2007 12:22 33For Stevie -
Thanks for your response. A voltmeter can test accurately whether a car battery is “high or low in charge.” No one can definitely know whether a Biodisc’s scalar energy is at its peak as no standard equipment has yet been invented to measure its strength. Therefore, a buyer may end up with a Biodisc that’s not powerful enough or one that is defective to a certain extent. Perhaps this is one reason why the Biodisc works for some people but not for everybody. Also, no one knows whether very long-term usage of the Biodisc can have a boomerang effect on one’s health as no tests were conducted on white mice & such. For your info, I live just outside KL & am in town often.

Brandon
27 May 2007 17:09 34Please post this message instead of the last one as I had missed out “PER YEAR” in that message. Thanks.

For Stevie again:
Just one last thing for you to clarify: Doesn’t the Biodisc lose an average of 6.6 per cent of its original power PER YEAR if it’s estimated to last 15 years? Or, amazingly enough, does the Biodisc have an in-built on/off switch that automatically shuts its original power (i.e.100 per cent) down to “0″ (zero) in less time than the blink of an eye at the end of the last day of its working life?

Stevie
27 May 2007 17:39 35For Brandon -

Appreciate your reply. I wonder why the demo you went to did not mention about the Prognos & Schott certifications for BioDisc? A Prognos machine is what an astronaut uses to test his or her physical wellbeing before they shoot them in space. It does provide very accurate reading about a person’s health before & after using the BioDisc.

You can read about Prognos in (http://www.prognossystems.com/) (http://www.hitechealth.com/press.htm) or just google it.

Having said that, machine can still be tweaked and human can still lie. The best test you can ever do on the BioDisc is water the energy water on plants or animals. We have testimonies that can shock you… I guest they didn’t show these proofs to you in the demo you went to.

Since you are living near KL, please do drop by Ms TP’s demo. What’s the harm of giving yourself another chance. Worst come to worst, you can start another blog hammering me & QuestNet. I have nothing to gain from you good health. I am saying all these because I know the product works. That’s all.

Nice talking to you. Look forward to see you in person one day. Cheers!

Best regards,
Stevie

Brandon
28 May 2007 09:13 36For Stevie -
Thanks for the additional info. As far as I’m aware, a Prognos machine isn’t made available to test a person’s on-going well-being during Biodisc demos. So just a few more words from me. Rock salt, canning salt, kosher salt, iodized salt, solar salt, Dead Sea salt, etc. Salt comes in different varieties & saltiness varies from one variety to another. Perhaps Biodiscs are like salt. Depending on your luck, you may end up with a winner or a dud as no standard machine is used to test its energy level at the time you buy it. As it’s estimated to last 15 years or so, probably the Biodisc loses its scalar energy right from Day One. So maybe that’s why the company is trying to clear off older stocks at special promo prices. Also, no sensible business person would offer discounts if his or her product is already selling like hot cakes. Perhaps the more you make use of the Biodisc, the faster its scalar energy dissipates as there’s no special equipment to recharge it. Salt doesn’t lose its flavour but we can’t say the same thing about the Biodisc’s energy, can we?
Anyway, I wish you all the best in your business!

specilized
28 May 2007 16:00 37I have been using bio disc as instructed by QN IR for about 4 months now, my back pain still no inprovement, still got sinus problem which they have testiment that bio disc can cure, Bio disc is just a piece of high quality glass that can benseen from the Scott Glass Certificate. I will make complaint to Ministry of trade and consumer affairs. I try to dechlorine tape water using bio disc it also fail

specilized
28 May 2007 16:07 38Bio disc:

A useless piece of very high quality glass selling for about RM 1000

do you think it’s a scam? those believe in it had been deeply brain washed. you can check on energized water scam or hexagonal water scam on the net.

Hartina
28 May 2007 16:41 39Specilized, maybe you can still use it as a magnifying glass to read the newspaper. See Comment No. 16 above.

Antonmax
28 May 2007 20:31 40Nope, doesn’t work. I tried to use it as a magnifying glass like you suggested, but all I see are lines and circles!

specilized
28 May 2007 21:39 41I have also tried to use it to improve my stamina by placing it in my waterbackpack on mountain bike mountain climb you know what, no difference at all, after trying all kind of methods I finally realized, it’s just a piece of glass and that’s all, whatever show that they present to you is just tricks, like MONDO MAGIC.

specilized
28 May 2007 21:46 42Bio disc and energized water are JUNK SCIENCE or PSEUDOSCIENCE, you can learn details about these scams on www.chem1.com, we (including myself) are very vulnerable to these kind of scam if we are not equiped with such scientific knowledge.

Nixon
28 May 2007 22:25 43Being an ex-staff of QuestNet i am compelled to state that it is the most unprofesionally run MLM company in this galaxy. About 200,000 fully paid products are yet to be delivered. The quality of its Board of Directors totally sucks. The turnover of the Company has been grossly overstated. I really pray that with this recent tsunami that has hit the company, the datuk will finally wake up and smell the coffee. It is really shocking that the datuk allows people to fall on his feet. To be continued.

Antonmax
28 May 2007 22:57 44Geee, specilized, you really specilized in all not working!I guess you must have placed it in the wrong place! See the place you put, maybe your waterbackpack on mountain bike improved its stamina instead of you!

Maybe to you it doesn’t work, but how about those who testified that it works for them? Are you calling them liars?

Marco
29 May 2007 10:49 45Who are most of those who have testified & are testifying that the Bio Disc is such a wonderful product? Your guess is as good as mine. They are the active IRs (Independent Distributors) who want you to buy the product & sign up as a member also. When you attend a Bio Disc meeting, the emphasis is usually on how you can earn more money by recruiting more members under you to sell more Bio Discs.

Antonmax
29 May 2007 14:16 46Have you used the disc yourself apart from attending the presentation? My guess is as good as yours! No, my dear sir, your guess is better than mine cos you are guessing and I am not! You mean to say that most of these testimonies are only from active IRs! If you can just look at things from the other angle. Maybe you should know why; is it because that they have used the disc and found to be beneficial to them and they wanted to share (that’s why they are called active). If something is good, won’t you want to share with your friends? And if you can make some money out of that, is it wrong!

Glenn A.
29 May 2007 14:39 47Thanks, Specilized, for giving the address of the excellent website on water scams:
http://www.chem1.com/
EVERYONE, including Bio Disc representatives, should read the various web pages on aquasacams especially:
http://www.chem1.com/CQ/
http://www.chem1.com/CQ/ASfaq.html
Even the BIO DISK (BIO DISC)is listed as a product of the junk science in the market place in this page:
http://www.chem1.com/CQ/gallery.html

Glenn A.
29 May 2007 14:51 48This is the actual page where the BIO DISK (BIO DISC) is assessed:
http://www.chem1.com/CQ/wonkywater.html#BD
(Scroll down the page to go to the description about the Bio Disk).

Antonmax
29 May 2007 15:45 49Geee, kinda bias, ain’t you! So what is stated at chem1.com is the gospel truth to you and what is stated at the biodisc site can’t be! Like I asked, have you ever try to use this disc yourself just to prove it doesn’t work! At least specilized did and he could attest to that through his experiences. Isn’t that’s what science is suppose to be, to test to prove or disprove! Don’t just believe mine or chem1.com words, just try it yourself and then state your opinions based on your proof.

specilized
29 May 2007 18:06 50Antonmax,

Chem1.com state scientific facts, bio disc sales persons (Questnet IR) trying to make money from junk science/pseudoscience/mythical believe, who should you trust?
Miracle power from Bio disc does not exist in this world, it’s the power of your mind that cure you.
Basically you can collect a piece of stone from mountain stream and call it “bio disc” and it will perform the same as questnet bio disc, it should not cost you a lot.

Glenn A.
29 May 2007 19:37 51Yeah, I agree with Specilized! It’s a positive mental attitude (i.e. faith) that can often cure your illness or reduce its severity. When you believe in yourself or someone or something, you may often achieve what you aim for whether it’s more income or better health. So a piece of stone from a mountain stream is a good or lucky talisman if you really believe that it will do wonders for your health. So why bother to get an expensive Bio Disc???

Marco
29 May 2007 20:40 52Antonmax, I had asked several IRs whether their health have actually improved after having used the Bio Disc & some of them replied,”Not sure” or “Not yet.” But all those who replied “Not sure” and “Not yet” are still keen to make more money of out the scheme. As they had invested lots of $$$ in expensive pieces of glass, perhaps they all want to recoup their capital & make some profits as fast as possible before the market for Bio Discs bottoms out. It appears that the interest to make more money is the stronger force that drives most IRs to say all sorts of wonderful things about the Bio Disc.

specilized
29 May 2007 20:57 53Nixon,

For those who have not received the bio disc (Made in Germany) do not worry I can immediately send them replacement Biodisc (millions of years old sacred stone) from high mountain stream at Borneo Highland, just pay the postal charges and some fuel cost.

Antonmax
29 May 2007 22:07 54Specilized,

Have you tried to use your mind power to cure yourself? Your back pain? Your stamina in mountain biking? Did you find a stone that can do the same? If so, do please tell!

Have chem1.com done some test to disprove that the biodisc works, or do they just place it under one of their junk science/pseudoscience/mythical believe and you only believe what they claimed. You can’t believe IRs selling this but you can go into the net and believe the scientific facts from people you didn’t even know! Ain’t we just being lop sided!
Hey, why Borneo Highlands? You mean you can only find the sacred stone at Borneo highlands and not any place else!

Antonmax
29 May 2007 22:10 55Glenn A,

Samo samo; do try to cure yourself with your mind! And you and specilized are good ones to talk about junk science!

Antonmax
29 May 2007 22:16 56Marco,

I don’t know which several IRs you have asked who replied “Not sure” or “Not yet”, but there are sure several more who will reply to you “Sure”, “For sure”, “definitely”, “Thank god for biodisc”, “Taste like spring water” (this one from an old woman who tasted the water from the biodisc), etc….How can you share something if you yourself have doubts!

Antonmax
29 May 2007 22:23 57Yup Nixon,

You can start a biz with Specilized to sell sacred stone from Borneo Highlands. Why have to pay fuel cost? I thought the sacred stone is supposed to give you super stamina to your mountain bike that you can peddle all da way up, scope up all da sacred stones, stick them all over ya body and peddle all da way down! You only have to pay for the postal charges, or maybe you don’t becos you can use peddle power (power of your mind) to distribute the sacred stones all over da world!

specilized
29 May 2007 23:10 58Antonmax

If bio disc can do what it claims I will buy a lot more and stick it all over my body, by doing so may be I can beat Lance Armstrong and won Tour De France.

specilized
29 May 2007 23:16 59Antonmax,

How the old women who tasted the bio disc water can tell it’s taste like spring water, what does spring water taste like, has she ever tasted spring water, which spring water you are talking about. some spring water I have tasted are terrible.

specilized
29 May 2007 23:32 60Antonmax

I heard that stone from Mount Kinabalu are better can cure AIDS too!!
Thanks for your suggestion to JV with NIXON It should be “a bit” more profitable than Bio disc If not allowed at the same price of bio disc because it should cost a bit less than biodisc - need to import silica sand from here to make the glass. I suggest bio disc should cost RM50 max. Can check with Schott Glass AG

specilized
30 May 2007 00:03 61Exact descriptions from SCHOTT Glass Certificate for biodisc:

“This is to certify that Bio Disc is manufactured at the SCHOTT AG Grunenplan Plant in Germany. Exclusively for Quantum Intelligence Sdn Bhd in Kuala Lumpur. Utilizing special grade glass components as to achieve the finest quality glass product”

try to find out from SCHOTT Glass, a international manufacturer of glass product - bottles, jar etc (not health product manufacturer) whether there is anything special about BIODISC.

Antonmax
30 May 2007 01:18 62Specialized,
You heard and you believe! Remarkable! You really must market this stone! No wonder I heard a lot of people are climbing Mount Kinabalu now! Did you managed to bring home some stones from your climb?

NIXON – WATERGATE!!!!!!!

SCHOTT Glass Certificate for biodisc

PROGNOS Certificate for energy for biodisc

Savvy!

Antonmax
30 May 2007 04:02 63Specialized,

Non, non, du not stick the biodisc all over your body. If you fall down you might hurt yourself! Don’t want that to happen, do we!

I was suggesting the sacred stone, but if you insist on sticking them all over your body to desperately win the Tour De France, who am I
to say otherwise! Maybe Lance Armstrong has a stone or biodisc with him, who knows!

The key word was “old woman”. Long, long ago, there was this young woman who lived up in the mountains (maybe Borneo Highlands). All da time she drank water from the spring water. Long time has passed and now she is OLD, and she stays in an urban area and had not tasted spring water for a long time. Savvy!

Maybe, there are some people living upstream from where you drank your stream water!

Glenn A.
30 May 2007 10:10 64To Antonmax - I said that a positive mental attitude can OFTEN cure an illness or lessen its severity. I did NOT say that it ALWAYS does.
The website http://www.chem1.com/CQ/ is a FREE public service set up by a retired faculty member (former professor) of the Dept of Chemistry, Simon Fraser University Burnaby/Vancouver Canada to enlighten people about various water scams. The website http://questbiodisc.com/ has been specifically set up by Questnet to drum up more business for the Bio Disc. Now, which website has got the lion’s share of the truth? Probably some testimonials posted in the Questnet’s website are far from the truth. If you give a person ENOUGH in cash or kind, he or she will endorse a product & sing praises about it.
Anyone who is not satisfied with the Bio Disc or any of Questnet’s products, please file a complaint with:
The Consumers Association of Penang (CAP)
Address: 228, Jalan Macalister, 10400 Pulau Pinang, Malaysia
Contact person: Mr. S.M.Mohd. Idris, President
Tel: +604-2293511
Fax: + 604-2298106
Email: meenaco@pd.jaring.my
If you’re a Singapore resident, please direct your complaint to the Consumers Association of Singapore (CASE)whose website address is -http://www.case.org.sg/#

specilized
30 May 2007 16:23 65QN should sponsor me with many pieces of biodisc to race in Tour DE Langkawi to prove it’s worthdiness, since QN had already made millions $$ from selling bio disc.

Peter
30 May 2007 17:13 66Gee, you all seem to talk nonesense. All you do is critisize and bicker. Don’t you have anything better in life to do? Perhaps not. I guess you all are not financially retired??
Why don’t you all do the world a favor and start looking inside. What have you done to make this world a better place to live in??
I suggest read the book - “who will cry when you die”? This will help you have a close look at your life and see how productive it has really been…
The people who seem to critisize all the time live a pathetic life. You are like chicken littles…The world is ending ! Everyone is cheating us…
Remember, people treat you the way you want to be treated. If you are currently being mistreated, then have a look at your life. Are you allowing it? What did you do to bring about this? I believe you exactly have what you deserve. You only get what you give…
So if you want more in life then go get up your ass and do something more positive!
Hope this helps and wake up ALL those negative bickering people!

Antonmax
30 May 2007 17:15 67Gee, Glen A, we are only expressing our opinions! No need to get so uptight!

Do you know the former professor? Have you ever tried to e-mail him? Do try and let me know cos I tried to e-mail him but guess what, e-mail no work!

I know, only the Ang Mo lang website tells the truth and now you are saying some testimonies in Questnet’s website were far from the truth! See, you are calling these people who gave testimonies LIARS, right! Further, you insult their intelligent by saying that they sang praise about the biodisc because they were being given enough in cash or kind!

I know, I know, you have to disprove biodisc cos you were also paid enough in cash or kind to sing against it!

Antonmax
30 May 2007 17:24 68Specilized,

You gotta believe in it or your power of intent would be so strong as to negate it’s effect; You know, de mind over da matter thing!

Also, should the officials of Tour de Langkawi ever found out that you are boosting yourself with the so many pieces of biodisc, they might disqualify you from the race! I think you can try with that piece you have. 1 piece might not arouse suspicion, but a whole bunch of it would sure make you stand out in the crowd! Also, vely heavy lah! How to cycle like that!

Ahmed Sheriff
30 May 2007 17:26 69Dear Friends,

I am a victim of QI. My biodisc fell down and broke into pieces as my dreams

Antonmax
30 May 2007 17:42 70Dear Ahmed,

Take care of the disc and the disc will take care of you! You are a victim of your own carelessness! It’s made of glass, for goodness sake, and so if it fell down, sure would shatter! Don’t worry, your dreams are still intact cos we always have the power of de mind!

specilized
30 May 2007 18:31 71It gives me an idea to achieve financial freedom by creating fake bio disc and sell at dscount say RM500, I will make a fortune out of it.
Actually QN IR are mostly good honest people who believe what they were preached, a lot of facts are not told by their senior.
For Peter, I am financially free already, but I do not make it from biodisc. I spend a lot of time doing “nonsense things” eg cycling & climbing & trail riding

specilized
30 May 2007 18:39 72dear ahmad

No worry It’s just a piece of glass, your business is still on, I can make replica.
My close relative had already made 10 X USD250 cheque already, but her expenses is a lot higher than income still in the red, you know to attend V conference in KL you have to pay QN USD450.

Antonmax
30 May 2007 18:48 73Specilized,

Don’t be like that lah! You are already financially free, but us poor buggers are still in de poor house. Give us a chance to be like you loh! I sure would like to go up mountains (Borneo Highlands in particular) and drink from the streams, taste aside! Make sure you invite us for your “nonsense things”, ok!

Peter
30 May 2007 18:57 74Well for “Specialized”, if you are financially free then why bag anything? Whether it may be the biodisc or anything at all?
If you made it to financial freedom using “network marketing”, it makes me wonder how it happened. It seems you are “busy” bagging other “products” other than yours. What makes yours the best anyway? I am not doing or selling the “biodisc” either but give others a break will you…
Other companies who made it to the top had to undergo intense scrutiny from the mediocrity who believes living is working 9-5pm.
Have you read all the success stories of all the people who made it to the top? Did you know almost everyone put them down.
If you are financially retired which I doubt, then yours actions do not speak of it at all.
So if you consider yourself successful then give others who are working towards financial success a break.
All I can say for those of you who are doing the “biodisc” or any product for that matter. Good on you my friends. Help more people and serve as many people as you can. It is only by serving people can you call yourself truely successful because you have helped someone breath easier!

Glenn A.
30 May 2007 19:11 75Antonmax, I NEVER said some testimonials in Questnet’s website are far from the truth. I ONLY said “PROBABLY” (i.e. maybe, perhaps). I also NEVER said Questnet IRs were paid enough cash or kind to sing praises about the Bio Disc. I ONLY said “A PERSON” will endorse “A PRODUCT” (Bio Disc IRs & the Bio Disc were NOT specifically mentioned). By the way, you had posted around 12 comments & you had NEVER mentioned that you have personally benefited from using the Bio Disc. If I were to ask you right now whether you have indeed benefited from it, your answer would LIKELY be a resounding “Yes!” But who would believe you now? PROBABLY you’re paid to defend the Bio Disc. It SEEMS that, to you, the Bio Disc has extraordinary powers just like the rings in the movie “Lord of the Rings.” To your question “Do you know the former professor”, here’s my reply: Do you know the Datuk & all Questnet big shots PERSONALLY AND have you rubbed shoulders with them or play golf with them regularly?

Nixon
31 May 2007 12:46 76With due respect to all users of this website, i hope you will all read with interest when Nixon writes becos he is an ex-staff of QuestNet. Please do not use this website as a sales pitch. I believe the main objective of writing herein is to ascertain whether our beloved Dato’ Vijay is an innocent victim of circumstances or otherwise. I assure you that QNet has not been set up to cheat the people. Unfortunately Dato Vijay did not grow together with the Company. He totally failed to transform himself into a top notch CEO. The biggest problem with QNet is that the backend support to the IRs is unbelievably poor after 9 years in existence. The Corporate people are of extremely low caliber especially the Directors. The composition of the Board of Directors have not changed from day one except for termination of 2 Good Founders and resignation of a Director. The corporate managers spend 70% of their time fighting with the Directors. There is no quality time being spent on the network services AT ALL. VTeam is higly ineffective. VTeam leaders mainly consist of defunct IRs. Their job is to blindly praise Dato Vijay. Dato Vijay has been transformed into somesort of divine by the VTeam and the Directors. As for QNet network marketing business, i wish to highlight that we are one million light years behind Amway. QNet sells the business compensation plan and not the products. Their products are NO WHERE Beverly Hill material. It is closer to Petaling Street category. Why is it that despite huge sales, Vijay has not done anything about making QNet a top leader in MLM industry? It’s because he does not have any corporate experience. Moreover, he is not really a clean guy. The mission of the Qi Group called RYTHM (raise yourself to help mankind) is rubbish. 37,000 IRs and their families left in the lurge in Nepal. 40,000 IRs cheated in SLanka as they are unable to do the business there except in a hidden manner. In Malaysia, we have a highly incapable man named Magandran Rajadurai who allows QNet world plan to be openly promoted. This is purely illegal as QNet has been banned in Malaysia. The government gave licence only to conduct the local plan under a local company named QN Global Sdn Bhd. The sales of this QN Global is close to NIL. QNet needs to be revamped in totality. Its entire Board need to be removed and replaced with people with quality. The ‘Sphere of Silence’ is being claimed by Vijay as a top seller but the quantity of books sold is a classified information. Vijay goes to bed around 5am and starts his day in the corporate office at about 8pm - totally against the law of mother nature and Sphere of Silence. Corporate staff are almost daily called to cling around him from 10pm to 3am. How do managers run the company effectively when all the power lies with the Directors who come to work after 2pm? To be continued.

specilized
31 May 2007 12:49 77Back to serious, no nonsense, I am not trying to sell anthing or make any money from here, I never involved in network markiting also, I just want people to be aware of all kind of scams in the market. Beware mislead by MLM and MLM products. You can definitely be healtier if you climb the Borneo highland & mount K. more often no need to depend on Biodisc or sacred mysterious stones. My experience with bio disc is the truth.

Nixon
31 May 2007 12:53 78I wish to tell all you IRs not to let Vijay and his Directors to suck the blood out of you guys who risk your lives to promote QNet. We have clearly seen the shocking outburst of the IRs at the recent Redirect. The Qi Directors now got a new tactic - just cry when put under pressure, especially Richard. Vijay then comes after 11pm and make the IRs apologise to corporate saying that we must tackle the issue and not the person. God ! When will this Dato ever learn. To be continued.

Nixon
31 May 2007 13:07 79I stongly suggest with respect that all of you stop using this website for sales pitch. Instead the objective should be to ascertain whether our beloved Dato is innocent victim of circumstances or otherwise.

Nixon
31 May 2007 13:28 80Glenn A.,

Please also do not forget that QNet left 37,000 families in the lurge in Nepal and ditched another 40,000 in Sri Lanka. Should we rub shoulders with these kind of QNet Founders & directors who raise themselves to ruin others? By the way, QNet business is banned in Msia. The COO, Magandran, openly allows the world plan to be promoted in Qi premises in PJ. The only biz plan that is legal and approved in Msia is QN Global, the sales of which is zero. It is just a matter of time that Mag will be picked up.

specilized
31 May 2007 13:33 81For Stevie,

I rode bicycle pass a bunch of stray dogs many times, they never able to get me.

Antonmax
31 May 2007 15:39 82Whow, whow, hold onto your horsy, Glenn A. Ok, ok, you never said a lot of things but you did tell a lot too! When you used the words “probably” and “maybe” and “perhaps”, you were already implying that! Although you did not specifically mentioned Questnet IRs were paid enough cash or kind to sing praises about the Bio Disc, you were insinuating that they were, right!

You know why I never mentioned I have indeed benefited from the Bio Disc, because if I did, you would say “But who would believe you now”. Yup, you are probably, maybe and perhaps right that I was paid to defend the Bio Disc cos my payment in kind are the benefits I derived from the usage of the Bio Disc.

Now, let me ask you again; have you yourself use the Bio Disc to disprove its extraordinary powers? I don’t know what extraordinary powers the rings in the movie “Lords of the Rings” have cos never used them so I cannot acclaim to what they are capable of! Probably, maybe or perhaps you have, so do share with us and maybe I can try too! Where can you get one of these rings to try, mind I ask?

Nope, I don’t have the opportunity to rub shoulders with the big shots, but I do know some of the small shots who gave the testimonies whom you said, and I quote, “Probably some testimonials posted in the Questnet’s website are far from the truth.”

Antonmax
31 May 2007 16:13 83Specialized,

Now I know you can win the Tour de France and the Tour de Langkawi! Go, go, go, allez, allez, allez!If you do ever enter into one of these races, do let us know and we will support you!

On the other hand, climbing mountains can be hazardous to your health! Not everyone is as healthy as you and can climb Borneo highland & mount K. more often! Someone with some heart problem or some breathing problems would definitely be more unhealthier if they attempted to climb as you suggested!

Me, too! Not trying to sell anything, cos you never read anywhere in my posts that I asked anyone to buy, did you! Me only try to say, you find it good, use it, not find it good, no use it! It’s a free world, and nobody, I mean nobody can force anything on anyone anytime!

Radzi
31 May 2007 16:44 84Testimonial in the biodisc website seem to be miracle, if such a miracle biodisc exist a lot of doctor would either use it as a tool or may will loose business to it. it should be banned by the relevant ministry if the claims were to be false, but if it is as good everyone should have one. I personally think the claims are bull….

specilized
31 May 2007 16:48 85Nixon
Can we know more about “The shocking outburst of IRS at the recent redirect”

Glenn A.
31 May 2007 19:41 86Antonmax,
Probably some testimonials are far from the truth IF they were given by people like you. On one occasion (Comment No.82) you testified that you have derived benefits from using the Bio Disc. But on an earlier occasion (Comment No.40) you testified that all you could see were lines & circles when you tried to use the Bio Disc as a magnifying glass to read the newspaper. So probably you were joking (i.e. not being truthful)on both occasions, right? Probably the testimonials that you heard were far from the truth IF those small shots were people like you. As for the rings, probably you can find them if you surf the Net for “Lord of the Rings merchandise or memorabilia.” Good luck then in your search!

Antonmax
31 May 2007 23:24 87Glenn A,

I did tell the truth! I was trying what someone earlier suggested to use as a magnifying glass cos if you don’t try you don’t know, right! So, I tried to use and all I saw were lines and circles, and that’s the truth, the whole truth and nothing but the truth, so help me, god!I don’t know what gave you the idea I tried reading newspaper cos all I wrote was “I tried to use it as a magnifying glass like you suggested, but all I see are lines and circles!” Never did say read newspaper with it, did I! Now, who is far from the truth!

My question again; Have you tried to use it to prove or disprove? At least I did and specilized did too, and we can both attest to its ye or nae, but can you!And you are a fine one to just blatantly dismiss other’s claims!And now you are belittling these small shots! Try it first and then you can testify. Trust me, if you say it doesn’t work for you after trying, I won’t say a word and I would respect that and you can take that to the bank!

About the rings, again my question; have you tried them for their extraordinary powers? You began that, not I, so stick to it and prove to me first that the rings do possess the extraordinary powers, and I quote “…has extraordinary powers just like the rings in the movie “Lord of the Rings.” You did that to the Bio Disc, so now your turn to use the rings yourself and prove their extraordinary powers. Then you can tell me and I would try it too! Fair and evenly square, isn’t it!

Antonmax
31 May 2007 23:31 88Radzi,

First, get one or borrow one to try it first! No need to buy, otherwise, someone would accuse me of trying to do a sales pitch to you! If it works for you or not then, then you can decide, otherwise…

See, the sentence you wrote about doctors; “or may will loose business to it”. Now you get it!

This is a wellness tool, not a health tool and should be a compliment and not an exclusive to medicine!

You got something against bull?

Glenn A.
01 June 2007 10:42 89Antonmax, it was NOT suggested that you should use the Bio Disc as a magnifying glass to look at something else. Since you did NOT use it to read the newspaper, you have NOT followed the suggestion at all. If the Bio Disc is SOOO good, it will work for EVERY Tom, Dick & Harry. Since it did NOT work for Specilized, PROBABLY it won’t work for me as well. So why should I throw good money down the drain for something that might not work for me in the end? I never said that those rings have extraordinary powers in REAL life. But in REEL life (i.e. in the movies), they do possess such powers. But since you’re the type who believes that “if you don’t try, you don’t know”, then you should buy those rings from a Lord of the Rings merchandise website to try them out. And you can also search the Net for “immortality rings” sold by a Chinese guy in San Francisco & try out those rings,too! So good luck to you in your trying…and ..trying!

Rina
01 June 2007 12:50 90According to Professor Martin Chaplin in his website on Water Structure & Science (see latest visitor’s book entry), healthy life-promoting water molecules from pure springs do not have a left-turning spin (i.e. they do not spin in a counter-clockwise direction).

Professor Chaplin is currently Professor of Applied Science and a University Director of Research of South Bank University, London.
His current interests lie mainly with structural aspects of polysaccharides and water, how dietary fibre may interact with the structure of water and so be beneficial to health, and he has a particular interest concerning intracellular water.


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