Former billiards champion, Michael Ferreira, has been granted temporary relief. Arrested in a Rs. 400-crore scam involving marketing company QNet in Mumbai on September 30, he was given a break today by a Hyderabad court from the relentless interrogations and investigations against him.
Padma Bhushan Ferreira, 78, but fit as a fiddle, created history in 1978 by becoming the first amateur to make a 1000-point break in billiards. He was world champion four times.
Investigations are ongoing, and despite the fact that there is prima facie evidence against Mr Ferreira and QNet, it would be a travesty of justice if we passed premature judgment on the man or the company, already bruised and battered by infamy. In a scenario where they are exonerated of most of what has been alleged, it would take a long time to recoup from a long-drawn nasty affair. If found guilty, well, they will be punished.
Marketing companies have always been on the wrong side of a popular belief, which has branded them notorious in nature. Is the business flawed, designed to cater to the need of only those sitting on top of the chain? Maybe not.
There is a seemingly endless debate over whether these companies and programs are legitimate business opportunities or not. While there are cases of financial fraudulence in the industry, there are parallel benefits, too.
People who are disillusioned with their present occupation, exhausted from years of the corporate toil and don’t feel the bond between their job and the people it impacts outside their office walls, consider it to be quite a lucrative prospect. Working in retirement is one of its better attractions. There are many areas of life for many people that can be fulfilled with specific types of products and service available through some MLM or Direct selling opportunities.
Despite certain loopholes that are known to exist, like in every other sector, the Marketing sector is well poised for growth and if regulated professionally with checks and balances, it can be one of the most significant solutions to our savings crisis.
Multi-level marketing is complicated and carries its own perils, but if tighter management policies are laid out on the location and headquarters of these firms, and licensing is more scrutinizing, more good than evil will come out.