A Kurnool district court on Tuesday sent chairman and CEO of Amway India William S Pinckney in 14-day judicial custody, after he was arrested by Andhra Pradesh police in connection with a criminal case registered against the direct selling company.
Kurnool SP Raghurami Reddy said Pinckney was arrested in Gurgaon on Monday and brought to Kurnool on a warrant, responding to a complaint alleging financial irregularities in Amway's operations.
The CEO has been booked under the Prize Chits and Money Circulation Schemes (Banning) Act besides charges of cheating as well as extortion under relevant sections of the Indian Penal Code (IPC), the police officer said.
This is the second time that Pinckney has been taken into custody, after the Kerala police arrested him as well as two Amway directors earlier, for alleged financial irregularities. Condemning the arrest of Pinckney, Ficci said the uncalled for action may hit Indo-US business ..
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