Govt of Kerala asked Reason For Amway Officials Arrest

1 June 2013
Thiruvananthapuram

Kerala Government have asked for the reasons that leaded to the arrest of Amway officials. Amway India’s chairman and chief executive officer, William S Pinckney, a US national, and two other senior officials were arrested at Kozhikode on charges of money laundering and cheating.

The Federation of Indian Chambers of Commerce and Industry (Ficci) insisted the arrest would send wrong signals to foreign investors while Corporate Affairs Minister, Sachin Pilot, offered to lay new guidance to protect interests of the fast-growing direct selling industry.

A local court in Wayanad granted the trio conditional bail the next day. Radhakrishnan said the company officials were arrested on complaints registered with a local police station by the distributors.“Amway India does not make any abnormal profits. Our contribution to the corporate and sales tax is among the highest from FMCG (fast moving consumer goods) companies in India,” the company insisted.

Source– http://www.gulf-times.com/india/185/details/354672/kerala-govt-orders-probe-into-amway-officials%E2%80%99-arrest

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