Direct-selling company Amway India on Monday said its MD and CEO William S Pinckney has been released on bail, two months after his arrest by Andhra Pradesh Police in connection with criminal cases registered against the firm in the state.
A spokesperson of Amway said Pinckney has been granted bail in all the cases in Andhra Pradesh.
Commenting on the development in a joint statement, Amway chairman Steve Van Andel and president Doug DeVos said: “The release of Amway India CEO Bill Pinckney is a great relief.”
They, however, added they were “profoundly dismayed that this unnecessary detention occurred at all, and are even more troubled that it lasted so long”.
Amway regional president, Europe, South Africa & India Samir Behl said: “His arrest and long detention was unnecessary and unreasonable. We will vigorously defend ourselves at trial.”
Pinckney was arrested on May 26 from Amway India’s headquarters at Gurgaon and later was produced before a court in district Kurnool, which sent him to judicial custody after rejecting his bail plea.
He was subsequently arrested in other criminal cases registered against him in the state on allegations of financial irregularities by Amway, a charge contested by the company.
“Our focus is squarely on efforts to ensure that