Ghaziabad based online company Socialtrade Biz has turned in to a big online trading scam. The scam mounted to Rs .3,700 Crore. Uttar Pradesh Special Task Force (STF) smashed Rs. 3,700 Crore online fraud racket yesterday wherein close to seven lakh people were fooled. The online scam was operated by Anubhav Mittal, director of Ablaze Info Solutions Private Limited. The company used to give money in if user clicking on some link provided by the Socialtrade Biz. Special task force arrested three persons and closed the bank accounts of the company.Company’s Director Anubhav Mittal, COO Sridhar Prasad and technical head Mahesh Dayal were arrested and an FIR was lodged at Soorajpur Police Station in Noida, Uttar Pradesh.
The company was running a portal associaltrade.biz under this scheme investor had to pay between Rs. 5,750 to Rs. 57,500 in the company’s account to become working member and earn Rs. 5 per click.
The investors used to have 25, 50, 75 and 125 links which they could click on to earn money and number of links was based on the subscription plan they opted.
Senior superintendent Amit Pathak of police said the threesome had launched scheme in 2015, telling people they can earn money from home