The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Thursday, 18th May 2006 (5940 views)

Star wives of some of India’s wealthiest men have joined forces to sell Questnet's gold coins.

The scheme will see every wife trying to sell the limited edition coins, which will be embossed with religious images, including one of the pope.

A friend said: "Each person [in this case, wife] can buy up to three such coins, which cost Rs 8,000 each – but they sell them for Rs 25,000."

However, the participants have been accused of "money-spinning", as they could earn up to Rs 3.54 crore annually "just sitting at home", reports Upala KRB.

Bhavana Pandey, one of the women involved, says: "I have been in this venture for the last two months and fit it very interesting.

"It's called referral marketing, where one person can refer two people to the scheme."

Also involved is the wife of the Indian finance minister, who is a legal adviser on Questnet’s board. She confirmed that all transactions are sanctioned by the Indian government, that everything is taxed and that no dealings are done in cash.

 

« Back to Gold News stories