Question: Why is the online social trading executed by Anubhav Mittal and his aides a scam? Why are the many investors still not convinced that Ablaze Info Solutions Private Limited was involved in any wrongdoing?
Answer: Ablaze Info Solutions Private Limited run by Anubhav Mittal was not doing any business or earning any profit from investments. The model that it was following was fraudulent because it was only circulating investors’ money. First, Mittal was paying daily to investors, later he started paying weekly. He had plans to leave the country to escape the law. Investors are not convinced because they are not aware of the law.
Q: Around 7 lakh investors have been duped as he was operating since 2015. Why was action against Anubhav Mittal initiated so late?
A: We were tracking Ablaze Info Solutions Private Limited for the last two weeks, following the complaints. I do not think we are late. Our duty is to crack cases as and when we get a clue and we did exactly that, without delay.
Q: Don’t you think early action could have saved some investors from being cheated?
A: Investors should have studied the agency’s business model and exercised due diligence before investing.
Q: Do you think the special task force has adequate evidence to prove Anubhav Mittal and his aides guilty in the court?
A: Certainly. As many as 10 of our teams are busy collecting more evidence. We are collecting more proofs and preserving it to prosecute the accused. Now, we will work along with the investigating officer in this case.
Q: Was Ablaze or Anubhav Mittal working for political leaders, actors or other clients, who wanted to get more followers on Facebook or Twitter?
A: As of now, we do not have any evidence that suggests so. If Mittal or his aides were working to increase followers on social networking sites such as Facebook or Twitter, then he must have been paid for it. At present, we haven’t found any indication of such transactions. Mittal had no client of any sort. He was just using investors’ money.
Q: In many earlier cases in which STF has cracked frauds, few get proved in courts. Why? Will it happen in this case too?
A: We have done our job. Now, the central agencies and the investigating officer of the police station will also work to gather evidence to prove Mittal guilty before the court. STF alone is not exclusively responsible for gathering evidence.