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Police Shut Down "Questnet" Pyramid Scam; Arrests Made

Two individuals have been arrested in a sting operation involving a marketing pyramid scam in Armenia. Raymond Kocharyan, a citizen of Iran, and Vatche Manukyan,  a citizen of the RoA, were picked up by the National Security Service after complaints were lodged by citizens against two companies operating in the country under the name of “Questnet”. An investigation into the activities of the two companies, operating independently of one another, has revealed that some 113 Armenian citizens have been duped into paying $600-1,500 for a variety of merchandise through the internet. The pyramid marketing scheme was halted when buyers found out that they had actually paid many times more than the actual worth of the merchandise. When the individuals demanded their money back from the companies involved, they were told by representatives to be patient and work at recruiting more distributors to the marketing network. They were also promised that not only would their initial cash oulays be paid back but that they would receive hefty cash bonuses. The National Security Service has repeatedly warned citizens to be wary of such marketing schemes and the promise of easy profits.

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