Mr Godfred Yeboah Dame — Attorney-General
Mr Godfred Yeboah Dame — Attorney-General

A-G petitions court to dissolve QNET Limited; accuses company of fraud, illegality

The Attorney-General (A-G), Mr Godfred Yeboah Dame, has filed a petition at the Accra High Court seeking an order to wind up (dissolve) a network marketing company known as Quest Net Limited (QNET).

In the petition filed at the Commercial Division of the Accra High Court last Monday, the A-G accuses the company of engaging in dishonest, illegal and fraudulent business activities.


“Investigations by the National Security Council Secretariat disclosed that the respondent (QNET) operates in a manner akin to a Ponzi scheme by luring clients to make deposits and investments with them which they eventually lose,” the petition said.

Alleged fraud

It is the case of the A-G that QNET mainly operates in the Ashanti, Western, Eastern and Ahafo Regions, and engages in various “fraudulent schemes” such as inviting the public to buy products for outrageous and non-existent profits.

“Petitioner avers that to become a member of the false schemes put in place by respondent, respondent requires prospective subscribers to purchase various online items for various sums ranging between GH¢5,000 and GH¢15,000,” the petition said.

The principal legal advisor to the government further avers that investigations indicated that QNET also took money from people with the false representation that it could help them find jobs.

“The respondent lures unsuspecting members of the public to pay the sum of about GH¢5, 000 for the purpose of placing them in various jobs which turned out to be a hoax,” the petition added.

After taking the money, the A-G said the company would then orchestrate the arrest of its victims who try to make noise about its “fraudulent activities.”

Alleged money laundering

Mr Dame further contends that the activities of QNET are mostly dominated by Nigerians, Burkinabes, Ivorians , Malians and Togolese, who launder the proceeds from their illegal activities.

“The petitioner says the widespread criminality and illegality for which the respondent is being operated has grossly undermined its existence in the Ghanaian community,” the petition added.

According to the A-G, investigations have shown that QNET is part of Quest International also known as QI Group which is located in Hong Kong, a company operating in many countries.

However, the A-G said owing to its “illegal activities”, the company has been banned in the USA, Canada, Australia, Rwanda, Iran, Sri Lanka, Syria, Afghanistan and La Cote d’Ivoire.

Legal basis

The petition was filed under the Corporate Insolvency and Restructuring Act, 2020 (Act 1015), Section 84 (1) of Act 1015 allows the A-G, the Registrar-General, a creditor of a company or a member of the company to present a petition to the High Court for the official winding up (dissolution) of a company if (a) the business or objects of the company are unlawful, the company is operated for an illegal purpose, and (c) the business being carried out by the company is not authorised by the constitution of the company.

Based on the above provision of Act 1015, the A-G is seeking an order from the High Court for the official winding up of Quest Net Limited, and order restraining the directors, members and officers of the company from exercising any powers that pertain to the running of the company.

Mr Dame also wants the court to “appoint the Registrar of Companies, in her capacity as an Official Liquidator to exercise the powers of a liquidator including manage the assets of the respondent Quest Ney Limited pending the making of a winding order by this Honourable Court.”

Writer’s email: [email protected]

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