Direct Selling News : Amway India MD & CEO William Pinckney released on bail. - Direct Selling News Reviews & Updates of Companies

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Direct Selling News : Amway India MD & CEO William Pinckney released on bail.

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NEW DELHI : Direct-selling company Amway India on Monday said its MD and CEO William S Pinckney has been released on bail, two months after he was arrested by the AP Police on allegations of criminal cases against the firm. 
Calling the release of the CEO a 'great relief', Amway Chairman Steve Van Andel and President Doug DeVos said in a joint emailed statement: "We have been profoundly dismayed that this unnecessary detention occurred at all, and are even more troubled that it lasted so long. Our focus is squarely on efforts to ensure that nothing like this happens again." 
Samir Behl, regional president, Europe, South Africa & India, Amway added in the statement: "Pinckney's arrest and long detention was unnecessary and unreasonable. We will vigorously defend ourselves at trial." 
Pinckney was arrested in May from the direct selling firm's Gurgaon headquarters. He was arrested multiple times in other criminal cases, all in the state of AP, on allegations of financial irregularities by Amway, a charge the company has strongly contested.

The company said it would work with the new government for a clear direct selling legislation.

"Our resolve to work with the newly elected Union Government in New Delhi on clear direct selling legislation is stronger than ever... Amway can partner to find legislative solutions in India that clearly distinguish legitimate direct selling businesses from frauds, protecting Indian citizens from unethical operators," their statement added. 
Last year too, Pinckney, along with two company directors, was arrested around almost the same time by the Kerala Police, again on charges of alleged financial irregularities. But he had been released after a day's detention. 

The Amway officials said they have 'much work to do to define specific legislation which regulates direct selling industry in India'. 
"Some authorities have, on a mistaken understanding of the direct selling model, taken the view that direct selling companies are covered under the Prize Chits and Money Circulation Schemes (Banning) Act. This Act does not distinguish between genuine direct selling companies and illegal schemes, nor was it intended to," Amway said.
Source : http://economictimes.indiatimes.com/news/politics-and-nation/amway-india-md-ceo-william-pinckney-released-on-bail/articleshow/39170372.cms

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