Ponzi scam: Rs5crore was transferred to ex-director of Noida’s Ablaze Info | noida | Hindustan Times
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Ponzi scam: Rs5crore was transferred to ex-director of Noida’s Ablaze Info

The special investigation team (SIT) probing the alleged Ponzi scam by Ablaze Info Solutions revealed that Rs5 crore was transferred from the company account to Sunil Mittal’s electrical goods firm’s account, of which he is the sole proprietor. Further, the SIT is also tracking Anubhav’s wife, Ayushi Agarwal, who was recently named an accused in the case. She is one of the directors of Ablaze and is not traceable since Anubhav and two of his colleagues were arrested by the UP-STF on February 2.

noida Updated: May 02, 2017 13:07 IST
Officials said that Ablaze was registered as a company on September 7, 2010, and had two directors, Anubhav and his father Sunil, since the beginning.
Officials said that Ablaze was registered as a company on September 7, 2010, and had two directors, Anubhav and his father Sunil, since the beginning.(Sunil Ghosh/HT Photo)

The special investigation team (SIT) probing the alleged Ponzi scam by Ablaze Info Solutions revealed that Rs5 crore was transferred from the company account to Sunil Mittal’s electrical goods firm’s account, of which he is the sole proprietor.

SIT officials revealed that Sunil allegedly spent Rs70 lakh of the Rs5 crore that was transferred on January 13, 2017. Sunil is the father of Anubhav Mittal and a former director of Ablaze Info Solutions.

Officials of SIT and Uttar Pradesh special task force (STF) suspect that the amount was sent to three to four other firms, roles of which are being identified, to throw investigators off the trail.

Officials said that after Anubhav’s arrest on February 2, his father shifted base and changed locations among Agra, Kanpur, Ghaziabad and Hapur, where he stayed with relatives, friends and business associates.

“We have found two persons from Murad Nagar in Ghaziabad whose IDs were used to buy packages from Ablaze. So far, these two names did not appear in the ‘core group’, suspected to be the brains behind the company. However, the investigation is continuing. We have also recovered an Endeavour car from Sunil after he was arrested,” RK Mishra, deputy superintendent, UP-STF, said.

Earlier, Anubhav had told investigators that he owned an Endeavour car but the car recovered from Sunil was found to be registered in a third party’s name. Officials are investigating how the car was procured.

Further, the SIT is also tracking Anubhav’s wife, Ayushi Agarwal, who was recently named an accused in the case. She is one of the directors of Ablaze and is not traceable since Anubhav and two of his colleagues were arrested by the UP-STF on February 2.

Ayushi, of Kanpur, and Anubhav were married in December 2015, after which she was roped in as a director of the company to replace Sunil, officials said. The SIT has conducted a search in Kanpur, Hapur and Ghaziabad but is yet to locate Ayushi.

“We will soon obtain a non-bailable warrant against her as she was declared an accused in the case and holds liability. Her name will figure in the first chargesheet in the case of an immediate arrest,” Mishra said.

Officials said that Ablaze was registered as a company on September 7, 2010, and had two directors, Anubhav and his father Sunil, since the beginning. Sunil also operates an electrical goods shop, of which he is the sole proprietor, in Pilkhuwa.

The SIT is now probing the motive behind the transfer of Rs5 crore from Ablaze to the firm owned by Sunil Mittal.