Chairman and Chief Executive Officer of Amway India William S Pinckney has been arrested by Andhra Pradesh police. The arrested Chairman and CEO of Amway India has been remanded to custody for 14 days by the Judicial Magistrate in Kurnool today. The Amway Chief, who was taken into custody by a team of Kurnool Police from the company headquarters in Gurgoan on Monday, was brought to Kurnool today and produced before the magistrate. Pinckney, head of the direct selling company faces charges under section 420 of IPC (cheating) and violations under the Prize Chits and Money Circulation Schemes (Banning) Act 1978, according to Kurnool police. A case was registered in December 2013 following a complaint by an advocate Jagannatha Reddy on allegations of cheating and financial fraud.
Read the Hindu Business Line news report here.