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According to the online research the company is a scam!

Complaint Rating:  53 % with 227 votes
53% 227
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According to the research online regarding the company its been banned in Nepal and Bhutan and it collapsed in srilanka and Philippines and even in chennai in India it had a shut down due to scam reasons but still the company seems to be on its feet in mumbai in India.

I wonder how and why... when its been legally banned and shut down in these countries how come is it still functioning in mumbai... isn't binary system where they are selling products to its own members a scam.
Complaint comments Comments (227) Complaint country India Complaint category Business & Finances


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D  1st of Oct, 2007 by    -1 Votes
I completely disagree with this complaint, because in srilanka, napal &
bhutan, these companies is not banned but all this type of concept is banned
so that they can save they money from outsourcing, not because companies are
illegal or fraud.
But in India there is no any type of banning in this type of concept,so according
to Indian law, these companies are not illegal. Most important that you can see
the registration of this company in www.mca.gov.in (ministry of corporate affairs).
If you find this company registration then how can you tell that company is illegal or fraud.

So dear friends, dont blaim any companies even persons without proper investigation.
here i would like to tell one hindi proverbs.
"Kutta palo, Billi palo, lekin kabhi Galt-fahami mat palo."
D  2nd of Nov, 2007 by    -2 Votes
Best concept, best compensation plan, exclusive product line, out of the world (best of the best) service, to feel proud to be a part of COMPANY.With at least 10% commencement you rake in mullah.

Those who are saying QN is illigal,they must visit
www.mca.gov.in if they have guts..Even Govt. of Orissa & Puri Temple Trust have
given permission for Lord Jagannath Gold Medallion.Want to earn Solid money, then
join under refferer ID No.-NF048571 (Placement position- RIGHT) and see for yourself
within DECEMBER 2008
Subhendu Dash.
A  16th of Nov, 2007 by    +1 Votes
See, the growth of this scheme is greater than the growth of population. It has to end, with half roughly 1/3 members (1/2 at the worst case) being members without anyone under them. They will lose terribly. Just because growth is not happening in a balanced manner, this stuff will last for many years. Unlike Amway and such companies, this company sells near worthless products (Gold is worth its wait of course, but there is no real collection value to the coins they issue. Maybe in a 1000 years...) People have tried to sell it at 2/3rd the price at which they bought it in eBay.com, but no one made a bid for most of these. Here are some more links:


There are many, many more.
N  2nd of Dec, 2007 by    0 Votes
Hi Dear,

I tried searching www.mca.gov.in, but i didn't find any reference to questnet over there. Could someone pls provide the actual complete link where we can find the company's registration information?

A  2nd of Dec, 2007 by    0 Votes

I got the link. Go to www.mca.gov.in => 'Other Services' => 'Check Company Names'. Select 'Starting with' option and type 'questnet', then u'll see the results

D  12th of Dec, 2007 by    +1 Votes
GoldQuest International Ltd. claims to be a mail order retail company. In reality it is a very steep pyramid organization.

What does GoldQuest sell? This is what their presentation says, ??In quest for the best product, the company chose to retail the One Ounce American gold coin, the One Ounce Canadian Maple Leaf gold coin, the One Ounce Australian Nugget gold coin, and a selection of gold coin jewelries. Why gold coins? Gold has a universal market appeal; an excellent investment because of its intrinsic value, a hedge against inflation, devaluation or economic down-trend, very easy to buy or sell (a case of liquidity).??

Sounds great. For centuries people have been working and fighting to accumulate gold.

Hold your horses. How much will you have to pay for your gold coin? $700 + $30 shipping and insurance. However, you don?t have to pay $700 upfront, GoldQuest will let you have your gold coin and your Tracking Center Registration for only $300 + $30 shipping and insurance! Nice guys!

Don?t be naive. Have you bothered to check how much one ounce of gold is worth. It is about US$270 and the trend is downward. GoldQuest is definitely not the place to buy

your gold coins.

GoldQuest proponents will be a little embarrased to admit that they were a little bit dishonest in selling you a $270 gold coin for $700. But they have been well-trained to hype the business.

They will move on to tell you that your $700 is not just buying you a coin, but it is setting you up in business. Your GoldQuest pyramid starts with you as a TCO (Tracking Center Owner). You start by persuading two people to buy gold coins. Each of these people, in turn, should each persuade two other people to buy gold coins. As the referrals grow downward you earn $400 for every five sales on the right and five sales on the left of your tree. Those under you will also eventually earn $400 for every five referrals on the right and five referrals on the left of their own trees below you.

In typical pyramid fashion the guys on top of the pyramid get rich and enjoy life. But where does the money come to pay your commissions? It does not come from GoldQuest . There is no perpetual motion machine. The money comes from the lowest three layers of the pyramid.

For you to earn your first $400, at least eleven people (five on the right and five on the left and you) have to invest or commit $730 to buy gold coins - a revenue of $8,030 for GoldQuest in exchange for about $3,000 worth of coins, freight and commission. A neat profit of $3,600. If the pyramid stops growing we have ten people holding on to $2,700 worth of gold but who have paid $7,000. A clear loss of $43,000.

If you can complete a five-level pyramid there will be 63 gold buyers in your group and you?ll receive $2,400 in commission. The two guys under you will get $1,200 each. And four would get $400 each. But a total of 63 gold coins would have been sold at $45,990. If the pyramid stopped growing, 56 people would be stuck with gold worth $270 each after having paid $730 each and would not have gotten a single cent in commission.

GoldQuest revenues from your pyramid add up to $45,990; its cost of commission is $6,400; cost of coins and freight $18,900. That?s $20,690 profit and contribution to overhead.

If GoldQuest , through its Indian marketing activities, is able to build a thousand five-level pyramids, Inda will suffer a dollar outflow of $45,900,000! GoldQuest would have about $20,690,000 in profits and contribution to overhead.

About 1,000 greedy Indian could have earned $2,400 on a $730 investment. Another 2,000 could have earned $1,200 on a $700 investment each. Another 4,000 would have earned $400 each on an investment of $730. Still a negative situation.

But about 56,000 poor Indians would be stuck with $270 worth of gold for $730 of their hard-earned money.

Is that an excellent investment? A hedge against inflation? Earning dollars for the country?

As a Rotarian I urge you to apply the Four Way Test to the GoldQuest scheme:

Is is the truth?
It is fair to all concerned?
Will it be beneficial to all concerned?
Will it build goodwill and better friendship?
Ask the thousands who will be stuck with gold coins worth much less than what they paid for.
D  12th of Dec, 2007 by    +1 Votes
First of all, you are asked to buy a coin for over twice it's market value. Why would you do this?! Then you're required to recruit a total of 6 more people in order to be paid 11,000 Rs. Using simple math, you come out with a net loss of 5,000 Rs. (30,000 - 14,000 market value = 16,000 net loss - 11,000 IF you recruit 6 more people = 5,000 net loss total).

So basically, you're paying THEM 5,000 Rs for the privilege of recruiting 6 people to do the exact same thing as you've done. The only people winning here are those who've duped you. This is a classic pyramid scheme and it's illegal (also called Multi-Level Marketing, MLM). They may not have been proven guilty YET, but they will be eventually...hopefully before they skip town with your money and everyone else's who fell for this. Run. Don't walk. RUN AWAY!

Pyramid schemes work on the principle of the more people under you, the more you get paid. The problem is, where does the money come from? It eventually runs out as more recruits are required to be paid, and the pyramid implodes leaving lots of people out of some serious investment capital.

There is limited space here to define these schemes, describe exactly how they operate and the pitfalls of them. The 3 links below are good sites that will give you all the info you possibly may need to make a wise choice regarding the MLM schemes.
N  19th of Dec, 2007 by    0 Votes
Dear QN guys,

Where is QN mentioned in the site www.mca.gov.in

Please provide a proper link...
D  21st of Dec, 2007 by    -1 Votes
Dear friend,
Thanks for all foolish complains. Put more complains so that people laugh at ur knowledge n information. In Nepal it is ban because import of gold is banned. But who stops you to buy Bio Disc,Mobilephone,Air ticket,Hotel and thousand of the best product by this company.There r three types of people one who makes thing happen,second is who watch thing happen and third is what happened when it happen. and 3 countries banned does not mean UNO has banned. Successfully runing in 185 contries. If India and any other developed contries follows these 3 small under developed counties then I will agree, it is scam. Write down my word within 4-5 yrs it will legal,etical,profitable and proven business plan in every country. How can u challange UN development fund which is core supporter? How can u doubt intregrity of world badmitnton federation,How can u say Ferari formula1 races organiseris fraud or scam. Keep watching things. Please keep writing more complains n do nothing n one day disapear. In fact U people r really to be loved. Please keep doing whatever u r doing n be happy. Only 3 % people in the world do questnet n becomes millionere. It is not cup of tea for every body.97% people must remain there only who always works for those 3 percent. Be happy. If U have little bit logic brain to analyse the entire thing. Thanda dimag lagakar sochen. What U need to do then act accoringly. We just wasting time. Time is wealth,health n life. N life is urs not mine.
N  21st of Dec, 2007 by    -1 Votes
U will wonder in future also. Only negative people wanders. U wander because u know nothing about business,Govt,Law human being life etc. In the begining it was dealing with gold. For ur surprise there are 21 different com under QI group. If u dont no please find out. I give u only 1 tip check bonvo.com. One day It has its own empire . within 3 yrs there will be country who opposes this life changing business concepts. Read more books like new profession , financial freedom,famous magazine like forbe magazine, Listen Bill gates,Donald trump,Kiosaki what they have to say about company. Dhobi guffa always leads u towards trobules. U know it has got own comn system,own tv station,own eastate,own hotel n resturan,It is real estate market also? Oneday every thing will come under QI gp. In india only Qi gp is ivestiing 500 million USd for chain of hotel. If dont know read Times of India 19 Feb 2007. If U dont no means u have no write to deprive any body who wants to transform life by giving bakbas statement.
N  29th of Dec, 2007 by    -1 Votes
How to recive my prouct? Are you have a email adress for send shing form? please Help me?
D  1st of Jan, 2008 by    +1 Votes
Guys Its a ### business.. as the guys in top will earn more n more.. n they will convince u to invest ur hard earned 30,000 bugs...for ###ing products which has useless values.. their products.. mobile phone-- qphone( must b stupid one copy of some chinese phone...).. guys tell me wat R&D this company has??? they may call as telecom division.. but its all eye wash... they buy from china.. Many sud av seen the chinese mobile wit tv for 6000 rs.. its something like tat .. a stupid cheap product... then guys dont be crazy in buying goldcoin for double the rates.. they claim as 24 crt.. but its only 19. somthing.. we checked it in TATA GOLDPLUS showroom wer there s a machine to chk crts.. then a diamond stud watches.. guys again swaroski crystal one... may b in few der might b diamonds but how do u belive its a diamond... n tat too without blacks.. then the final one ...vacation package.. real crazy one.. they will giv a 7day/8night stay in bangkok ... for 4 ppl.. but who will provide the flight expenses.. (they av aviation wing..wer they book tickets ;) ) but at extra cost... the a indian destination which is accessible by us is costing more... wat u guys say abt this...
my bottom line::: guys very soon i will start a company like this.. n get ready to visit moon.. only 3000 rs.. to visit artic circle..only 6000 rs.. to visit our office.. 45000 rs.. :p .. then mobile phones ...(china phones) with tv... equal to iphone...n95..w960.. ok guys..happy ...only for 7500 rs... then gold coin with ur faces...really numatic... available from one gram to one kg.. price changes as per market.. but triple value i will sell as its very rare.. then diamond watches.. n wat ever u say.. but belive me i will give only orginal swaroski crystal.. pls join my network... starting price is only 3000... n enjoy the luxe..
dont worry abt legal ..it will b pakka legal ..registred with mca.gov.in .... ok guys.. beware of questnet.. dont lose ur friend,...relatives.. relations.. jobs.. peacefulness...
ur comments are welcome...
N  1st of Jan, 2008 by    -1 Votes


D  2nd of Jan, 2008 by    -1 Votes
this is a global e-commerce business and if it is a scam wont it be coming in all the countries business magazines...wont it be coming in news n business channels headlines..??.wont it b d talk of the world. ????wont d media make it big issue???
all of u r talking abt those 3 countries...great bhutan, great srilanka, great nepal... idiots y dont u take d remaining 220 countries like US, UK, INDIA,MALAYSIA,SINGAPORE, JAPAN, CHINA, DUBAI, UAE, SOUTH AFRICA, BANGKOK, PHILIPINES, RUSSIA which r growing at a faster rate... first know d foreign policies of those 3 countries!! then u ll really know d reasons!!

this business is really rocking globally, inspite of all lazy idiots' false propaganda for d past 9 years... those idiots will keep on criticizing because they jealous of wat v r earning..

"tips for sucess in this busuness"
first of all this is a "business" n not a gambling r lottery etc... so run it seriously, put ur commitment...u ll suceed. further people who doesnt put his commitment will really loose money because u cant see profit unless u open d shop. sit with ur upline n strategize ur plan. get their guidence. understand that they cant grow unless grow

wat this business has given me???

joined in this business in sept 2007 (part time), apart from my software job in tcs.
earned 2.5 lacs in 3 months, which is more than my tcs annual package
bought my thunderbird bike, sony vaio laptop, nokia e90 which are my dreams

in simple words this business has given me "financial independence". "changed my lifestyle", "made my dependents financially secured"
N  2nd of Jan, 2008 by    +1 Votes
QUESTNET is definately a Big FRAUD.It ia utter nonsense.
D  3rd of Jan, 2008 by    +1 Votes
he..he..he.. @ TCS VINOTH KUMAR... I know u av seen some money.. but god only knows how many of ur friends are in trouble.. I know a person..TCS ..chennai.. who has taken money.. but caught in rotating money..around 10 lacks.. now he dont know how to pay dues for his friends credit card.. dont worry vinodh.. QUESTNET s not fraud.. but its a ###ing..torture..burden business.. who the ### said it has created good head lines.. do u know that chennai court arrested few ppl of GOLDquest(previous questnet..goldquest dont want to damage their name..so they came as questnet)...the company has paied a deposit of 75lacks in court.. if some nonsense happens..to compensate ... dont give build ups ...tat u got a thunderbird..n90.. i bet u must b dreaming... ;p... if wat u said s true.. show ur checks.. put ur IR account :snapshot.. lets c.... dont try getting some ones... I admit few ppl av earned lacs..y crores too/... but its all others money.. u guys will be cursed by people under you...who av not taken money.. EVERYONE SUD CLEARLY UNDERSTAND ONLY 15 - 20 % OF PPL WILL EARN...REST ALL ### N CRY IN BATHROOM>>>>
D  3rd of Jan, 2008 by    +1 Votes
@ VONODH KUMAR >>>TCS... I can clearly c tat u av been taught the DO'S & NO'S .. which u are using.. its part time.. professional.. then..220 countries.. can u pls list a proof of 220 countries... not some countries.. but with proof.. i can show tat its banned in few countries...see the links below... can u upload business channel headlines...
n lot more... i av seen many loosers than gainers in this business... so guys dont get tempted,,,
N  3rd of Jan, 2008 by    0 Votes
The news links provided are all dated for 2003...
I wonder if the company just disappeared altogether after 2003...
Or if the company is existing still, then y aren't they in the news anymore...

Any replies?
D  3rd of Jan, 2008 by    0 Votes
Friends pls understand this is a huge Mafia... who are looting the money from u... and dont be foolish to believe in the numbers.. pls put ur time in something else...
N  3rd of Jan, 2008 by    0 Votes
I want to know how much the price of the numatics rises... what kind of appreciation does it recieve... does it really sells at a price higher than purchase that too in lakhs?? Pl answer anyone at ur earliest.

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