05 February 2017

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Explained Rs. 3700 Crore click a link Internet Scam Anubhav Mittal

Explained Rs. 3700 Crore click a link Internet Scam Anubhav Mittal

Uttar Pradesh

Uttar Pradesh Special Task Force busted Rs. 3700 Crore internet based Ponzi Scam
in which around 6.5 Lakh people lost more than Rs. 3700 Crore

The main accused, Anubhav Mittal, started a scheme named Social Trade.
He had started the company, Ablaze Info Solutions Pvt Ltd, in 2011 when he was pursuing a BTech programme in a private college in Greater Noida.
The Social Trade was started in August 2015.
Ablaze Info Solutions Limited runs a web portal, socialtrade.biz.

The police said they received a complaint against the company that it was cheating people under Ponzi scheme.

When police raided the company's head office in the city of Noida they found 250 passports of employees and members who had been rewarded with a holiday to Australia.

To win the confidence of the customers, the company used to ask for online funds transfer and paid the money back into their account online.

Social Trade was advertised as is a social media exchange portal under Ablaze Info Solutions Private Limited in which members were asked to complete daily tasks like click on websites, blogs. Like Facebook Pages and get your earnings daily in bank account.

Uttar Pradesh DGP Javeed Ahmad on Friday announced that the case will be investigated by a Special Investigation Team (SIT). "UP STF busts 3700 crore internet based cheating racket across N India. 3 arrested. Will set up SIT for comprehensive investigation. Kudos STF," Javeed tweeted.

Amit Pathak, head of a police cybercrime unit in Uttar Pradesh, told Reuters, media that the men ran a series of websites that promised would-be subscribers a chance to earn Rs 5 each time they clicked or liked web links sent to their mobile phones.  The task force has arrested three persons so far and sealed the bank accounts of the company Ablaze Info Solutions Limited, located in Noida Sector-63 which had a total balance of Rs. 500 crore. “We have arrested the company’s owner, Abhinav Mittal, its COO Sridhar Prasad and technical head Mahesh Daya. Mittal has a B. tech degree and Sridhar is an MBA degree holder,” The company has accounts in several banks and some bank employees are also under scanner We will soon initiate action against these officials. We have informing ED, SEBI and RBI about the fraud,”
We have seized printed and electronic documents. In order to freeze around Rs 524 crore, letters to authorities have been issued. There is a ban on such a scheme under many laws, especially the Prize Chits and Money Circulation Schemes (Banning) Act, 1978. Under this Act, any multi-level or pyramid structure scheme, also called ponzi scheme, cannot be run on a public domain or through social media. Pathak said, “If we look at the business of this company — It was Rs 1 lakh in 2011, Rs 1.5 lakh in 2012, Rs 2.5 lakh in 2013, Rs 4 lakh in 2014 and Rs 9 lakh in 2015. In 2016, Rs 26 crore was on the balance sheet,” We have received account details of all members. All the URLs that members were supposed to ‘like’ led to a dead end. Their servers are in Ghaziabad; they had taken 12 servers on rent from a private company

The accused used money to buy properties and luxury cars. They regularly partied at five-star hotels in the name of promotional activities. They had also planned to visit Australia with their important customers, who brought huge business,”

The company made only Rs. 1 lakh in 2011, but between 2012 and 2016, its business grew from Rs. 1.5 lakh to Rs. 3700 crore. Preliminary investigation revealed that Ablaze Info duped around 6.5 lakh people with its ‘earn Rs. 5 per click’ scheme.

The accused started a web portal socialtrade.biz where an investor had to pay an amount, from Rs. 5,750 to Rs. 57,500, in the company’s account to become a member. Each member was promised Rs. 5 per click on links provided by the company. Members were given 25, 50, 75 and 125 URLs every day, based on their ‘subscription plan’.

They Offered 4 Packages and the validity of any Plan STP was one Year and after that member was supposed to renew the plan again.

1- Rs 5750 (STP 10) = Earn Rs.50 Daily
2-Rs 11500 (STP 20) = Earn Rs.100 Daily
3-Rs 28750 (STP 50) =Earn Rs.250 Daily
4-Rs 57500 (STP 100) - Earn Rs.625 Daily

Social Trade New Packages of Frenzzup.com:
Plan 1 -
Rs.12596 (GAD-1)
Payment Per Day: Rs.100
Daily Tasks: 20 Per Day
Per Click: Rs.5
ePoint: 1000
Promotional Capping: Rs. 28,000 Weekly
After Booster Per Day: Rs.200
Gift With GAD-1 Package - Ablaze Pen, Ablaze Diary, Ablaze Shirt, Ablaze Shoes

Plan 2 –
Rs.32596 (GAD-2)
Payment Per Day: Rs.250
Daily Tasks: 50 Per Day
Per Click: Rs.5
ePoint: 2500
Promotional Capping: Rs. 70,000 Weekly
After Booster Per Day Payment: Rs.500
Gift With GAD-2 Package - Ablaze Shirt,     Ablaze Pen, Ablaze Wrist Watch, Ablaze Neck tie

Plan 3 –
Rs.65191 (GAD-3)
Payment Per Day: Rs.500
Daily Tasks: 100 Per Day
Per Click: Rs.5
ePoint: 5000
Promotional Capping: Rs.1,05,000 Weekly
After Booster Per Day Payment: Rs.100
Gift With GAD-3 Package - Ablaze Wrist Watch, Ablaze Laptop Bag, Ablaze Shoes, Ablaze Diary, Ablaze Belt/Neck Tie, Ablaze Shirt, Ablaze Pen, Ablaze Wallet

The accused constantly changed their company’s name to show they are growing, business is spreading.Following are the names of web portals started by the accused persons.


socialtrade.biz website info – billing info
Registered On - 2015-06-07
Updated On - 2017-02-01
Registrant Contact Information:
Name - Ablaze Info Solutions Private Limited
Organization - Ablaze Info Solutions Private Limited
Address - F-472, 2nd Floor, Sector 63, City – Noida, State / Province - Uttar Pradesh
Postal Code – 201301, Country- India, Phone - +91.8868888868
Email – admin@socialtrade.biz

freehub.com website info –
Registrant Contact Information - Name - KOUTHER, AHMED Organization - AHMED KOUTHER Address - P.O BOX 23579 City Postal Code Country SA
Phone - +966.26838616 Fax - +966.9999999999 Email - a.kouther@mail.com

intmaart.com website info –
Registrant Contact Information - Name - Anubhav Mittal
Organization - Abaze Info Solutions Pvt. Ltd.
Address - R-9/223, Rajnagar, City-Ghaziabad, State / Province-Uttar Pradesh, Postal Code-201002, Country=IN, Phone- +91.9808224488
email - anubhavmittal.in@gmail.com

frenzzup.com website info –
Registrant Contact Information - Name - Anubhav Mittal
Organization - Abaze Info Solutions Pvt. Ltd.
Address - R-9/223, Rajnagar, City-Ghaziabad, State / Province-Uttar Pradesh, Postal Code-201002, Country=IN, Phone- +91.9808224488
email - anubhavmittal.in@gmail.com

Registrant Contact Information - Name - GREGG OSTRICK, Organization - GNO, INC.
Address - P.O. BOX 88, City - STEELE, State / Province - AL, Postal Code - 35987, Country - US
Phone - +1.2565387242, Email - dns@gnousa.com

In short members bought the one year subscription plan with a promise to earn Rs.5 for each link. They were encouraged to add more members and for that they got extra money.
The scheme keeps going unless and until new members keep coming and scheme collapses once number of joining new members gets reduced.
The subscription money gets distributed to new members and old members and later owners stop distributing that money and members realized they got duped.
All one had to do was to pay money for the membership and earn by clicking on the links

The UP STF has issued an email ID - reportfraud@upstf.com - for the victims of Ponzi scheme.

The officials said that the fraud victims can sent the details which will be incorporated in the investigation. This will also help in returning the money of the investors after the investigation and completion of formalities.

No one is guilty and criminal unless and until pronounced by the court of the law.

Photo – Anubhav Mittal

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Sunday, February 5, 2017

Tags – Ponzi Scheme Social Trade Anubhav Mittal