Amway India CEO Sent to Judicial Custody
court in Andhra Pradesh on Tuesday sent Amway India MD and CEO William S Pinckney to 14-day judicial custody after he was arrested in connection with a criminal case registered against the direct-selling company. While Amway India termed Pinckney’s arrest — the second in a year — an “unwarranted act”, an association of direct sellers said it sent out wrong signals to global investors on the day the Narendra Modi government took charge at the Centre. Kurnool Superintendent of Police Raghura- mi Reddy said Pinckney was arrested in Gurgaon on Monday and brought to Kurnool in Andhra Pradesh on a warrant, in response to a complaint alleging financial irregularities by the company.
“The CEO has been booked under the Prize Chits and Money Circulation Schemes (Banning) Act (PCMCS), besides charges of cheating as well as extortion under relevant sections of the Indian Penal Code (IPC),” Reddy said.
Pinckney was produced in a court in Dhone (50 km from Kurnool), which remanded him in judicial custody until June 7.—PTI