Abhinav Mittal Online Social biz scam, UP STF Shares Data With IT, ED
New Delhi, socialtrade.biz scam: The Uttar Pradesh Special Task Force (STF) on Sunday teamed together with the Income Tax department and Enforcement Directorate shared data in connection with the alleged Rs 3,700 online social biz and ponzi scam which was accused of seeking fake social media likes from more than six lakh gullible investors.
Till now the Complaints have crossed more then 4,500 on the email id of UP police's (STF) which has arrested three persons in the Rs 3,700 crore online ponzi scam.
The Enforcement Directorate (ED) have registered a money laundering case and have sought details from UP STF team for further probe into the case. Uttar Pradesh STF and Special Investigation Team assisted the ED. Digital evidence was being further collected.
UP STF have information that in several parts of the country and other states too the online social biz have spread, FIRs are being filed against the company and Abhinav Mittal.
Looks like the north India belt has become a region of Ponzi and many other forms of scam. After Saradha chit fund scam and other scams Yet another form of ponzi scam the online clicks and like scam by a young techie Abhinav Mittal, who has allegedly duped people into investing 3,700 crore in his Noida based start-up company, he did this until the Uttar Pradesh Special Task Force (STF) came along its way.
As of now the company website of Social Trade - socialtrade.biz - has been deactivated for investigation purposes. "The company's mobile application has also been stopped," he said.
The online company socialtrade.biz was Registered On 2015-06-07 and the website was booked till Expires On 2025-06-06.
Registrant Contact Information:
Name: Ablaze Info Solutions Private Limited
Organization: Ablaze Info Solutions Private Limited
Address: F-472, 2nd Floor, Sector 63
State / Province: Uttar Pradesh
The firm's bank accounts sealed by the police, it is assumed to have just a partial balance of Rs 500 crore, what could be just a fraction of the crores of money as there are six lakh of people being duped through by socialtrade.biz .
As per the first investigations it has been found that many investors had not received any payment in January. The investigators have found that there no evidence of business with any third party for promoting hits on latter's digital space.
Anubhav Mittal, was arrested by the UP Special Task Force along with his two other accomplices, Sridhar and Mahesh Dayal, yesterday. The police had received a number of complaints accusing Mittal's firm, Ablaze Info Solutions Private Limited, of cheating them.
mail ID launched for victims: The UP STF has launched an email ID - firstname.lastname@example.org - for the victims of online scheme, so that other victims and come up now.
What Mittals did: Ablaze Info Solutions Private Limited, founded by Mittal promised to pay Rs 5 to their clients every time they clicked on a link among one of the many web portals that ablaze would sent them. Before that The clients had to register with the company by paying some initial money. That is an average investment of Rs 57,000.
It made the clients believe that it was still making a profit of Re 1 on the clicks.