Social Trade Scam News : SocialTrade.Biz is One of Biggest Social Media SCAM running from last few month. More then 7 Lakh Indian People Invest 3,700 Cr. rupees in this Firm. Finally, the biggest online frauds were caught and 3 people got arrested UP Police this week. Read full article to know more about Social Trade SCAM
What is Social Trade SCAM ?
Social Media Exchange website with a unique concept to make money online with good Return on Investment. The company asked people to signup for their Social Trade website and ask them to invest between Rs.5,750 INR to Rs.57,500 INR in their company’s account and promised for a good ROI under the name of ‘Earn Rs.5 Per Click’.
Social Trade News
They made more than Rs.3,700 crore from 7 lakhs+ people within a short period of time in the name of online trading. UP Police Task Force arrested 3 people and in their primary investigation, it is revealed that a company located in Noida, Sector-63 named Ablaze Info Solutions Limited scammed the people in the name of Social Trade Business.
Social Trade Scam Process ?
1] Buy Social Trade Package of Rs 5750 to 57500
2] Now click on daily links & Get Rs 5 Per Link
How did ‘social trade’ work?
- The police arrested three persons- Anubhav Mittal, Sridhar Prasad and Mahesh Dayal from Sector 63 in Noida and seized nearly Rs 500 crore from them.
- The accused used to run a portal ‘socialtrade.biz’ under which an investor had to pay anything between Rs 5,750 to Rs 57,500 in the company’s account to become the member and earn Rs 5 per click.
- The portal was launched in August 2015 and offered four different ‘packages’ to the investors to earn money.
- After paying the money to the company, the investors were asked to like pages and click on the links they were sent.
- The company claimed it earned Rs 6 for every click and gave Rs 5 of it to the investors. However, the links sent by the company were fake, police said.
- The firm was registered under the name of Ablaze Info Solutions Pvt Ltd. in Noida and the accused used to constantly change the portal’s name.
- So far the firm defrauded over 6.5 lakh people collecting around Rs 3,700 crore, police said.Anubhav Mittal, who is said to be the kingpin, holds a B.Tech degree and hails from Ghaziabad. Prasad is from Visakhapatnam and Dayal is from Mathura in Uttar Pradesh.
- Besides seizing Rs 500 crore from a bank, police have seized various documents including the balance sheet of the company, list of directors and other officials and list of investors.
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