GoldQuest’s Vijayeswaran cleared in criminal case

Hong Kong - Malaysian businessman Dato' Vijayeswaran and his three co-directors were entirely cleared of all charges in a criminal case in the Philippines filed against them by their former business associates for alleged Syndicated Estafa on September 10 by the Quezon City Regional Trial Court, his company QI Ltd said in press release

The warrants of arrest were recalled and declared invalid following the Department of Justice Resolution requesting the review of the case for miscarriage of justice perpetrated by their former business associates. This in turn led to their names being cleared by Interpol.

In dismissing the case, Presiding Judge Bayani Vargas from the Philippines Trial Court said there was no probable cause against them for syndicated estafa or even estafa, which is a form of ''fraud", in the Philippines. This decision follows the Indonesian Court ruling on July 31, rejecting an extradition request by the Government of the Philippines.

"I'm greatly relieved by this outcome, although I was always confident that justice would prevail," Vijayeswaran was quoted as saying. "My immediate plans are to focus on accelerating the momentum on my various business ventures in Malaysia, Singapore, and abroad."

The case evolved from a complaint filed by Dato' Vijayeswaran's two former Filipino business associates. The two demanded more money after their failed venture in their own competing company which they then escalated invalidly to a criminal case.

The QI Group of Companies has been involved in business activities in Sri Lanka for the last six years and is actively involved in trading in the Colombo Stock Exchange. “As a group we firmly believe in investing in Sri Lanka despite the current situation in the country as we see Sri Lanka as a nation with great potential,” the statement said. “Our Group has close on five percent shareholding in the blue chip John Keells, just under 10 percent shareholding in NDB and 54 percent controlling stake in Ferntea. We wish to reiterate that the QI Group is committed to continue its investment in the Sri Lankan economy,” the release issued by Richard E. Zinkiewicz, Group Director of Finance at QI Ltd, said.

The statement made no mention of the group’s well known links top Goldquest, the multi level marketing company, whose products are banned in Sri Lanka.