The Uttar Pradesh special task force (STF) has under its scanner more private agencies that are duping investors in Noida on the lines of Ablaze Info Solutions Private Limited, 3W Digital Private Limited, socialtrade.biz — all owned by fraud-accused Anubhav Mittal.
“We have received complaints about many such private agencies working on Mittal’s methodology. Out of all the agencies against which we have received complaints, two are seemingly duping investors on similar lines. Our teams are tracking the functioning of these two agencies. Once we solidify evidence on their wrongdoing, we will crack the cases,” said Amit Pathak, senior superintendent of police with UP STF.
Anubhav Mittal had been working on a fraudulent model of seeking deposits from investors, promising returns for liking pages of some business websites. Mittal had packages ranging from ₹5,750 to ₹57,500 for investors who wanted to become members of his platform ‘socialtrade.biz’. He promised ₹5 per click to an investor and R1 would go to Mittal’s company in commission. Investors including farmers, software engineers, bankers, traders and real estate agents started joining his platform as initially, all started getting money daily in their bank accounts.
“The fraud in this whole business module is that ‘socialtrade.biz’ has no client who seeks their services and pays a fee. What the accused persons were doing was just circulating the collected investment among its members. As new members were joining rapidly, the agency kept accumulating money and started buying property without making any profit,” said Pathak.
Police said the two Noida-based agencies under their scanner were also working on the same module.
On Saturday morning, STF team had a meeting and chalked out a detailed plan as to how to gather more evidence against these two firms following Ablaze modus oprandi.
“I have today briefed my team on these two agencies. We will soon crack the case of two more agencies as our officers are gathering evidences,” said Pathak.