Hyderabad, 27 May-2014, PTI: William S Pinckney, chairman and CEO of Amway India was on Tuesday placed under arrest by the Andhra Pradesh Police in connection with a complaint against the direct-selling firm.
Kurnool Superintendent of Police Raghurami Reddy said Pinckney was apprehended in Gurgoan on Monday and was brought to Kurnool on a warrant. The arrest was based on a complaint alleging unethical circulation of money through Amway’s operations.
“He will be produced in the court shortly. The CEO has been booked under the Prize Chits and Money Circulation. Schemes (Banning) Act,” Reddy said.
This is the second time that the Amway India CEO has been taken into custody. A year ago Kerala Police arrested Pinckney and two company Directors on charges of financial irregularities.