Vijay Eswaran

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Vijay Eswaran
VijayEswaran.jpg
Personal details
Born 7 October 1975
Penang, Malaysia
Occupation Executive Chairman of QI Group of Companies

Vijay Eswaran (born 7 October 1960) is a Malaysian businessman,[1] currently serving as the Executive Chairman of the QI Group, headquartered in Hong Kong. He is also an author.[2]

Early life[edit]

Vijay Eswaran was born in Penang on 7 October 1960 to Pushpavathy Chinnaiah, a teacher and Vijayaratnam Saravanamuthu, who was with the Malaysian Ministry of Labour.[3] Vijayaratnam's work with the Labour Ministry had the family moving to different parts of Malaysia during Vijay Eswaran's childhood.

Vijay Eswaran Elvis with a socio-economic degree from the London School of Economics in 1984. Thereafter he stayed on in Europe for a year and did several odd jobs, including working on a construction site in Belgium, plucking grapes in France and driving a cab in London. It was in the UK that he was introduced to binary system marketing, and that prompted him to obtain a professional qualification from CIMA in the UK, followed by an MBA from the Southern Illinois University in 1986.[4] At this time he was involved in multilevel marketing (MLM) on a part-time basis while working for Synaptics in the U.S.. It wasn't until his return to Malaysia, where he was approached by the Cosway Group to start its Philippines business, that he began looking at MLM more seriously.[5]

QI group[edit]

In 1998, after his return to Asia, he co-founded a multilevel marketing company that would eventually grow and expand into what is today the QI Group, an e-commerce based conglomerate with businesses in travel, media, telecommunications, luxury products, wellness, training, and corporate investments.[6] The QI Group has regional offices in Hong Kong, Singapore, Thailand and Malaysia and a presence in nearly 10 countries through a wide range of subsidiary companies.[7]

Speaker and author[edit]

Vijay Eswaran has spoken at management and business forums such as the sixth Pravasi Bharatiya Divas in India,[8] and the World Economic Forum.[9][10]

His first book In the Sphere of Silence, was published in 2005.[11] It explains his personal life management philosophy and his habit of starting each day with an hour of silence.[12][13] Eswaran has also developed an interactive program called the Thought of the Day, or TOD Program.[14] His second book, In the Thinking Zone, a collection of thoughts and reflections on life, was released in May 2008. His third book, 18 Stepping Stones, was launched in 2010. On the Wings of Thought, a collection of his photography, was released in 2011.[15] His fourth book, Two Minutes From The Abyss, was released in 2016. [16]

Phianthropy[edit]

Vijay Eswaran has also established the RYTHM Foundation, the corporate social responsibility arm of the QI group.[17] In Malaysia, Vijay Eswaran has established a charitable organization, the Vijayaratnam Foundation, which is named after his father.[18] Through these foundations Vijay Eswaran has initiated community programs, such as mentorship,[19] and has also made donations to individuals and charities.[20]

Awards and accolades[edit]

In February 2013, Vijay Eswaran was named in Forbes Asia's Malaysia's 50 Richest at Number 25.[21] In 2012 Eswaran was given the New Global Indian (NGI) award for philanthropy and business excellence at the Global Indian Business Meet (GIBM) in New York.,[22][23]

Controversies[edit]

Vijay Eswaran, his business partner Joseph Bismark, Tagumpay Kintanar and Donna Marie Imson were accused in Jakarta on May 3 of allegedly defrauding two Filipinos of more $100,000 in Goldquest pyramiding scheme after arrest warrants were issued by Judge Vargas. They were charged before the Quezon City Regional Trial Court of syndicated estafa which was a non-bailable offence on the basis of a criminal complaint. The Department of Justice, Office of the City Prosecutor later dropped the charges following a Jakarata courts dismissal of the extradition request from the National Bureau of Investigation and citing it to be a civil liability and not a criminal case. [24] [25]In May 2007 The International Herald Tribune reported his arrest on an Interpol warrant.[26] A dispute in Manila, Philippines filed by two former partners of the original founding team was escalated to an alleged ‘offence’ leading to an Interpol Red alert listing of four directors. These included the two main founders, Vijay Eswaran, who was then Group Managing Director and Joseph ‘Japa’ Bismark, Founding Director. The case was fought out substantially in the courts of Manila and Jakarta.The Goldquest executives had asked the Philippines Supreme Court to stop the Quezeon City Regional Court trial pending resolution of a petition for review.[27] After three weeks, Indonesian courts released him; a Manila court dismissed the charge soon afterward.[28] His name features in the list of people against whom lookout notice has been issued by Mumbai police in India.[29]

In the Gold Quest Scam of 2008 in Chennai, India, where thousands of investors lost money, Vijay Eswaran, was charged as an absconding accused in the chargesheet filed by the police before the Magistrate Court.[30] The case was fought out to the Supreme Court, with the Supreme Court allowing the quashing of the entire proceedings. [31] The Supreme Court appointed a one man commission, a retired Judge of the Madras High Court, to settle all legitimate claims of around 200 depositors. [32] Enforcement Directorate, Chennai, has provisionally attached properties worth 150 crore of Gold Quest International in a case of money circulation and cheating under Prevention of Money Laundering Act.[33][34][35] Though there is a Red Corner notice pending against Eswaran, he is yet to be arrested and brought to India.[36] In an interview about the charges, Vijay Eswaran has denied any wrongdoing, and dismissed the claims as being indicative of corruption and poor journalistic standards in India. Qnet has also stated that Vijay Eswaran is neither director, nor shareholder of Qnet's Indian franchise(Vihaan Direct Selling Pvt. Ltd.).[37]

In August 2013, a newspaper in India reported that Vijay Eswaran was being investigated by the Economic Offences wing in regards to Qnet, which he founded.[38] The Economic Offences Wing issued lookout notice against Eswaran and a few others, after he failed to appear before the authorities for questioning.[39][40] Police have frozen six of Qnet's bank accounts in the country.[41] QNet has refuted the allegations fully in stating that its operations are legal, compliant and transparent.[42] The Enforcement Directorate in 2014 has alleged money laundering against Vijay Eswaran and his company Qnet.[43] This allegation has been refuted by both the company QNet and Vijay Eswaran.[44][45][46] After 3 years of probe, the Economic Offences Wing of the Mumbai Police filed a 55,000 page chargesheet in connection with the Qnet Scam. [47]

The Maharashtra Protection of Interest of Depositors (MPID) court said that prima facie the business of Qnet, of founder Vijay Eswaran, was not legal.[48][49] The Supreme Court granted conditional bail to Michael Ferreira and Malcolm Nozer Desai, shareholders of Vihaan Direct Selling Pvt Ltd., a franchise of Qnet in India. Both were directed to cooperate with the investigations.The court also stayed proceedings in 19 FIRs filed across the country.[50][51]

Personal life[edit]

He is married to Umayal Eswaran who is the Chairperson of the Vijayaratnam Foundation.[52]

References[edit]

  1. ^ "Commonwealth Business Council: Peoples: Vijay Eswaran". Commonwealth Business Council. Retrieved 27 March 2010. 
  2. ^ "Vijay Eswaran – In The Sphere Of Silence". Retrieved 27 March 2010. 
  3. ^ "About Mr Vijayaratnam". Vijayaratnam Foundation. Retrieved 27 March 2010. 
  4. ^ "Vijay Eswaran: Home page". Vijay Eswaran. Retrieved 27 March 2010. 
  5. ^ Vincent, Anne (October 2009). "Datuk Vijay Eswaran sets the record straight" (PDF). Business Today. vol 9 (issue 10). Malaysia. pp. 22–26. Retrieved 27 March 2010. 
  6. ^ "Hong Kong's QI Group builds on Thai "destination" plans". Hong Kong Trade Development Council. 3 April 2007. Retrieved 27 March 2010. 
  7. ^ http://www.bernama.com/bernama/v5/newsbusiness.php?id=526679) BERNAMA – Qi Group's Sales Value To Surpass US$1 Billion By Year-End
  8. ^ "India poised to become education hub, says Sibal". The Hindu. Chennai, India. 9 January 2008. Retrieved 27 March 2010. 
  9. ^ "WEF Contributor Profile". World Economic Forum. Retrieved 15 April 2013. 
  10. ^ "Asian Netizens Are Changing The Face of Social Movements". Jakarta Globe. 
  11. ^ http://www.inthesphereofsilence.com/about-us/
  12. ^ "Advice from the Top: CEO succeeds through silence". USA Today. 19 November 2007. Retrieved 27 March 2010. 
  13. ^ Maidment, Paul (22 March 2007). "Book Review: The Sound Of Silence". Forbes.com LLC. Retrieved 27 March 2010. 
  14. ^ "The thought of the day". vijayeswaren.com. Retrieved 28 March 2010. 
  15. ^ On the Wings of Thought by Dato’ Vijay Eswaran Archived 26 March 2012 at the Wayback Machine.
  16. ^ Eswaran, Vijay. "A Reading From Two Minutes From The Abyss". Youtube. Retrieved 31 March 2017. 
  17. ^ "RYTHM Foundation supports Bihar flood rehabilitation projects". UNICEF India. n.d. Retrieved 27 March 2010. 
  18. ^ "Vijayaratnam Foundation: About Us". Vijayaratnam Foundation. Retrieved 27 March 2010. 
  19. ^ "Boosting child development". The Star. 
  20. ^ "Cheer for children with cancer". The Star online. 20 October 2009. Retrieved 27 March 2010. 
  21. ^ "Vijay Eswaran Forbes Profile". Forbes Asia. 
  22. ^ "Vijay Eswaran Gets Award From Indian Diaspora In New York". The Malaysian Times. 
  23. ^ "Malaysia's Gandhian Entrepreneur". Gulf News. 
  24. ^ [1]
  25. ^ [2]
  26. ^ "Report: Indonesian ex-president helps catch Malaysian businessman in fraud case". International Herald Tribune. 7 May 2007. Archived from the original on 12 May 2007. Retrieved 28 March 2010.  (Sourced from the Wayback Machine.)
  27. ^ [3]
  28. ^ Frazier, Donald (2012-10-24). Forbes Asia http://www.forbes.com/sites/donaldfrazier/2012/10/24/selling-a-better-life/. Retrieved 15 January 2013.  Missing or empty |title= (help)
  29. ^ [4]
  30. ^ [5]
  31. ^ "Criminal proceedings can be quashed if it’s not a grievous offence: SC". The Times of India. 13 Sep 2014. 
  32. ^ [6]
  33. ^ [7]
  34. ^ [8]
  35. ^ [9]
  36. ^ [10]
  37. ^ "Vijay Eswaran denies fraud allegations". The Edge Financial Weekly. 
  38. ^ "EOW makes first arrest in QNet case - The Times of India". The Times Of India. 
  39. ^ [11]
  40. ^ [12]
  41. ^ "Cops freeze 6 bank accounts of marketing firm - The Times of India". The Times Of India. 
  42. ^ Nguyen, Ted (4 April 2014). ""QNets India ops are legal compliant and transparent"". Business for Home. 
  43. ^ [13]
  44. ^ ""QNET shocked at money laundering charges"". Concept BIU. 7 February 2014. 
  45. ^ "Vijay Eswaran denies fraud allegations". The Edge Financial Weekly. 
  46. ^ Murdeshwar, Sachin (1 January 2017). ""QNET Responds to Allegations in Charge sheet"". Global Prime News. 
  47. ^ [14]
  48. ^ [15]
  49. ^ http://onlineepaper.asianage.com/articledetailpage.aspx?id=7768713  Missing or empty |title= (help)
  50. ^ [16]
  51. ^ [17]
  52. ^ "Board of Governance". Vijayaratnam Foundation. Retrieved 27 March 2010. 

External links[edit]