Kerala: Amway India chairman, 2 directors granted bail
Posted on: 05:26 PM IST May 28, 2013
Thiruvananthapuram: Network marketing firm Amway's India Chairman and CEO William S Pinckney and two company directors were on Tuesday granted bail by a court in Wayanad. The trio filed a bail plea after having been sent to 14-day judicial custody by a local court on Monday night.
The three were arrested by the Wayanad Crime Branch on Monday in connection with three fraud cases registered in Wayanad district.
Kalpetta Judicial First Class Magistrate N Ravishankar on Monday night remanded them for 14 days. They were booked under the Prize Chits and Money Circulation Schemes (Banning) Act based on complaints filed by two persons in 2011.
In 2012, the Crime Branch (Economic Offences wing) had conducted searches at the Amway offices at Thrissur, Kozhikode and Kannur districts as part of its crackdown on money chain activities. The company's godowns in these centres were also closed and goods seized.
With additional information from PTI