Amway India Unit CEO Remanded on Consumer-Protection Law Charges
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Amway Corp.’s Indian unit chief executive William Pinckney had a bail application rejected after he was arrested for the second time in a year on charges of violating laws protecting consumers from investment fraud and ponzi schemes.
Pinckney was remanded into police custody by the Kurnool district court in India’s southern Andhra Pradesh state, Raghurami Reddy, the Kurnool superintendent of police, said in a text message yesterday. The remand will start today and run until June 2. Pinckney was arrested on May 26 in Gurgaon near New Delhi.