Amway In­dia CEO Sent to Ju­di­cial Cus­tody

The Economic Times - - Companies -

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

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