Ponzi scheme: Anubhav Mittal wanted to shut down business, start e-commerce site
Anubhav Mittal, who is accused of swindling ₹3,700 crore from over 7 lakh people in one of the biggest internet scams in recent times, was planning to shut down the business of ‘likes’ and start legitimate e-commerce websites.noida Updated: Feb 14, 2017 15:37 IST
Anubhav Mittal, who is accused of swindling ₹3,700 crore from over 7 lakh people in one of the biggest internet scams in recent times, was planning to shut down the business of ‘likes’ and start legitimate e-commerce websites.
He had also floated around 30 bogus agencies and companies to divert the money, the special investigation team (SIT) revealed on Monday.
SIT also seized ₹5.5 crore an e-wallet payment gateway used by Ablaze Info Solution Private Limited. “During investigation we came to know that Mittal’s company used MobiKwik e-wallet to get money from investors. We have seized the money,” Ram Verma, inspector general (IG) of UP STF, who is camping in Greater Noida for the probe, said.
Officials also seized passport of Mittal’s aides Shridhar and Mahesh, from their Noida and Faridabad residences, respectively. The police is likely to seek an extension of the remand of three accused. The five-day remand of the trio will end on Tuesday at 10am. “We will seek more time for questioning on Tuesday. We have been questioning them and taking the three of them to their offices, properties in Noida and Ghaziabad in connection with the probe. Taking them to offices and properties is time-consuming,” the IG said.
“They knew clearly that cheating people in the name of ‘like a page and get paid’ business will not survive for long. Therefore, they had planned to shut this investment business and start legitimate businesses. They had planned to show a heavy loss from the Ablaze Info solutions Private Limited accounts to escape the wrath of investors,” an official probing the case said.
The three accused were held by a UP Police’s Special Task Force (STF) after complaints were registered at Noida’s Surajpur and Phase-3 police stations by two people on allegations that the company was not paying them for their investments. The first complaint was filed on January 31 the second one on February 1.
The income tax office, enforcement directorate and other central agencies are also probing the matter. Investors from Nigeria, Kenya and Muscat have also lodged complaints against Mittal.
Mittal had also done transactions with diamond and gold dealers, SIT officials said. “We are investigating Mittal’s idea of diverting funds through gold and diamond dealers,” the IG said.