Noida online scam: Investors divided over action against Anubhav Mittal’s Ablaze Info Solutions | noida | Hindustan Times
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Noida online scam: Investors divided over action against Anubhav Mittal’s Ablaze Info Solutions

noida Updated: Feb 04, 2017 17:48 IST
Vinod Rajput
Noida: Police outside the office of Ablaze Info Solutions Limited in Noida Sector 63 on Friday. Investors in the firm had gathered outside the company to both protest and support it.

Noida: Police outside the office of Ablaze Info Solutions Limited in Noida Sector 63 on Friday. Investors in the firm had gathered outside the company to both protest and support it. (Sunil Ghosh/HT Photo)

Soon after the news of Anubhav Mittal’s arrest spread, dozens of investors -- some of whom earned profit on their investment and some who lost their money -- gathered outside the Noida Sector 63 office of Ablaze Info Solutions Limited on Friday.

Investors of the firm include college students, traders, engineers, farmers and real estate agents from Delhi-NCR, Uttarakhand and as far as Gujarat.

Those who had made money blamed the media and the police for “framing” Mittal, who provided them employment with easy returns. Some of them even shouted slogans in support of the online Ponzi scheme, socialtrade.biz.

Read: Noida online trading scam: Three held for duping people of Rs 3,726 crore

“I was able to buy a R60,000-iPhone because I earned handsome returns on my investment of R57,500. The company is being targeted by rivals who want to run similar business,” said Vineet Kumar, a college student, who came from Delhi in support of the agency.

Rohit Jain and his brother Mohit, from Delhi’s Janakpuri, said they bought 12 IDs on the website with an investment of Rs 57,500 each.

“We invested the money in October 2016 and got 85 per cent of our money back. The company provided employment to our family. I got investment made by my brother, mother, father and sister as it was a golden opportunity. Vested interests are trying to shut the company. We will lodge an FIR against the one who lodged the complaint against Anubhav Mittal,” said Jain.

Officials of STF and IT department said those who were among the initial investors got their money back. Those who joined later, mostly lost their money.

“In the long run investors will realise they have been duped. Many are still suffering as they did not get back the promised returns,” said an STF official.

Read: Noida online trading scam: How a company duped nearly 7 lakh people of Rs 3,700 crore

Many real estate agents and farmers in Greater Noida are among those duped.

“I invested Rs 8 lakh in the name of my family members. Initially, I got R1,000 per day in my accounts. But in December the daily payment stopped. The agency said payment stopped due to technical glitch in the server. But when I did not get money in January, I realized I have been fooled,” said Jagat Singh, who runs a real estate agency and lives in Greater Noida’s Dankaur.

“I will lodge an FIR against the trader who recommended the firm to me. I used to wake up at 4 am to click and earn money. Greed got me,” said Singh.

Rajesh Bhati from Jewar also lost his money.

“I invested Rs 57,500 and started getting R1,000 daily. Later, I convinced my sister, nephew, brother-in-law, sister-in-law and other relatives to invest. I borrowed money and made investments of around R12 lakh on their behalf. I do not know what to do now? The government should do something so that we can get our money back,” said Bhati, a farmer.