In what can be called as one of the biggest online fraud, the UP special task force on Thursday arrested 3 persons for an alleged online trading scam worth over Rs 3,700 crore in which nearly seven lakh people were duped.
“Registered under the name of Ablaze Info Solutions Pvt Ltd. in Noida, they used to constantly change the portal's name. So far they defrauded over 6.5 lakh people duping around Rs 3,700 crore,” Superintendent of Police (Uttar Pradesh STF) Triveni Singh said.
The Noida-based company used to decoy naive people by asking them to take their package from Rs. 5,750 to Rs. 57,500 and earn money by liking pages and clicking on the links they send.
During the investigation, it was found that over 6.5 lakh people had deposited over Rs. 3,726 crore in the company’s accounts using more than 9 lakh IDs.
The company's director Anubhav Mittal, CEO Sridhar Prasad and technical head Mahesh Dayal were arrested and a FIR was lodged at the Surajpur police station in Noida.
The task force has also sealed the bank accounts of the company, based in Sector 63, Noida, which had a total balance of Rs 500 crore.
In order to avoid suspicion and elude arrest, the accused in this case used to constantly change their company’s name. Some of the company names which they used to dupe people were socialtrade.biz to freehub.com, intmaart.com frenzzup.com, 3W.com etc.
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