3700 Crore Noida 'Like' Scam: Things People Need To Know

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A online fraud of 3700 crore busted by the Uttar Pradesh special task force. The mastermind behind this fraud is a 26 year old B.TECH Graduate who tricked near about 7 lakh peoples,  promised them of giving good return under Ponzi Scheme that is for hitting likes online on social media site “Facebook .”

Over the last year Anubhav Mittal had done a fraud through social trading business of Rs. 3700 crore. He owned a company by name Ablaze Info located in Noida and dupes 7 lakh people for good return and investment.

Ponzi scheme is a fraudulent investment operation where operator promises to pay initial investor short term return that are very large as compared to other investment option which are available in market .This business promises huge return not only from the profit earned from this business but also from the capital collected from New investors .

According to this scheme an URL sent to the subscriber’s phone and they were asked to click on that link. These links would be from Facebook and Twitter profile of other subscribers and also a fake server was setup where all these links would terminate. This Scam opened with the arrest of two of his partners, one is Shridhar Prasad a 40 year-old person And a 25 year-old Mahesh Dayal who worked in company’s technical support department of fake company called Ablaze Info Solutions Private Limited from noida office, sector 63 on Thursday.

Nokia is in news for number of call centre fraud over the last few years but this is the first fraud scam which came into the light because of its unique way of making money through Ponzi scheme with “like trading.” Buying likes for social media is common these days but making money of Rs.5 per like is new and unique way to dupes 7 lakh people. The special task force STF  team raided the office and found 250 passports with the list of high performer employees of fraudsters  who were to be awarded a trip to Australia soon.

The investigation also come up with the details of 520 crore which is deposited in 12 account of company which is in Canara Bank, Kotak Mahindra Bank, Yes Bank and Axis Bank. The officials are investigating the company’s balance sheet, bank accounts to which money was transferred. In this business the investor were told that they got the business to hit online like on digital platform from third party. The investors were given 25, 50, 75, 125 URLs on their phones every day as per the subscription plan.

STF, senior superintendent of police, Amit Pathak said this trio has launched this business pyramid of this social triad in 2015. They convince people by asking that they could earn while sitting from home. Company give enrolment to investors with subscription and the subscription money ranges from Rs 5,750, Rs 11,500, Rs 28,750 and Rs 57,500. Each investor is provided with a ID and Password at the time of subscription and they were told that they would get URLs and for liking through these online links they would get Rs. 5 per like. Pathak said this is the smart way of spinning the yarn of their fraud business.

For this business they rented a four story building in sector 63, Noida for the office of company Ablaze. The investors were promised to get payment on monthly basis in their registered bank account and within 21 days of the brought more subscribers for company they will get extra reward for that and their payment would increase. As on Thursday total number of subscription had reached around 6.5 lakhs.

This fraud was revealed when investors did not get their as they were promised to receive. The investors start complaining to police. One person filled FIR which is registered at Surajpur police station on January 31 against this company. Another FIR was filed at phase 3 police station. As the number of cases filed against one company a Special Task Force is assigned to handle this case as around 1 lakh people filed complaints through emails, text message against AlA online fraud of 3700 crore brusted by the Uttar Pradesh special task force. The master mind behind this fraud is a 26 year old BTECH Graduate who tricked near about 7 lakh peoples,  promised them of giving good return under Ponzi Scheme that is for hitting likes online on social media site “Facebook .”

Over the last year Anubhav Mittal had done a fraud through social trading business of Rs. 3700 crore. He owned a company by name Ablaze Info located in Noida and dupes 7 lakh people for good return and investment. Ponzi scheme is a fraudulent investment operation where operator promises to pay initial investor short term return that are very large as compared to other investment option which are available in market .This business promises huge return not only from the profit earned from this business but also from the capital collected from New investors.

According to this scheme an URL sent to the subscriber’s phone and they were asked to click on that link. These links would be from Facebook and Twitter profile of other subscribers and also a fake server was setup where all these links would terminate. This Scam opened with the arrest of two of his partners, one is Shridhar Prasad a 40 year-old person And a 25 year-old Mahesh Dayal who worked in company’s technical support department of fake company called Ablaze Info Solutions Private Limited from noida office, sector 63 on Thursday.

Nokia is in news for number of call centre fraud over the last few years but this is the first fraud scam which came into the light because of its unique way of making money through Ponzi scheme with “like trading.” Buying likes for social media is common these days but making money of Rs.5 per like is new and unique way to dupes 7 lakh people. The special task force STF  team raided the office and found 250 passports with the list of high performer employees of fraudsters  who were to be rewarded a trip to Australia soon.

The investigation also come up with the details of 520 crore which is deposited in 12 account of company which is in Canara Bank, Kotak Mahindra Bank, Yes Bank and Axis Bank. The officials are investigating the company’s balance sheet, bank accounts to which money was transferred. In this business the investor were told that they got the business to hit online like on digital platform from third party. The investors were given 25, 50, 75, 125 URLs on their phones every day as per the subscription plan.

STF, senior superintendent of police, Amit Pathak said this trio has launched this business pyramid of this social triad in 2015. They convince people by asking that they could earn while sitting from home. Company give enrolment to investors with subscription and the subscription money ranges from Rs 5,750, Rs 11,500, Rs 28,750 and Rs 57,500. Each investor is provided with a ID and Password at the time of subscription and they were told that they would get URLs and for liking through these online links they would get Rs. 5 per like. Pathak said this is the smart way of spining the yarn of their fraud business.

For this business they rented a four story building in sector 63, Noida for the office of company Ablaze. The investors were promised to got payment on monthly basis in their registered bank account and within 21 days of the brought more subscribers for company they will get extra reward for that and thier payment would increase. As on Thursday total number of subscription had reached around 6.5 lakhs.

This fraud was revealed when investors did not get their as they were promised to receive. The investors start complaining to police. One person filled FIR which is registered at Surajpur police station on January 31 against this company. Another FIR was filled at phase 3 police station. As the number of cases filed against one company a Special Task Force is assigned to handle this case as around 1 lakh people filed complaints through emails, text message against Alabze for its nonpayment.

Pathak said,” we don’t find any business from third party for online hits. As all the links get terminated on the same server near Gaziabad.”  He said this trio frequently changed its domain name to hoodwink police. The Social Trade website socialtrade.biz was shifted to freehub.com in December last year. Later after 10 days it was shifted to intmart.com and shifted frenzzup.com on 27 January 2017. Recently company had changed the name and put a board of W-3 Company.

Monthly rent of this company was of 7 lakh where Mittha took a salary of 5 lakh per month and Shridhar 1 lakh per month. Pathak said suscription money is the one and only revenue source of this company. Yesterday hundreds of investor gathered in front of company to protest against Anubhav Mittal , when they know the money they invested had disappeared.  It was very critical situation in front of company office on Thursday where one group of protesters are protesting against mittial and one group is in support of this company. The investors start reaching the office from early morning. One investor stood in support of Mittal and said he got all his returns as promised by the company. He said I invested 57,500 in the company and also got the return as promised by company abze for its nonpayment.

Pathak said,” we don’t find any business from third party for online hits. As all the links get terminated on the same server near Gaziabad.”  He said this trio frequently changed its domain name to hoodwink police. The Social Trade website socialtrade.biz was shifted to freehub.com in December last year. Later after 10 days it was shifted to intmart.com and shifted frenzzup.com on 27 January 2017. Recently company had changed the name and put a board of W-3 Company.

Monthly rent of this company was of 7 lakh where Mittha took a salary of 5 lakh per month and Shridhar 1 lakh per month. Pathak said suscription money is the one and only revenue source of this company.

Yesterday hundreds of investor gathered in front of company to protest against Anubhav Mittal , when they know the money they invested had disappeared.  It was very critical situation in front of company office on Thursday where one group of protesters are protesting against mittial and one group is in support of this company. The investors start reaching the office from early morning. One investor stood in support of Mittal and said he got all his returns as promised by the company. He said I invested 57,500 in the company and also got the return as promised by company.

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