Noida, Feb 6: The Uttar Pradesh STF on Monday sealed the house of Ayushi Mittal, wife of accused Anubhav Mittal, in Kanpur in connection with the alleged Rs 3700 crore Noida ponzi scam operated by the companies of her husband. Also Read - Beware of KYC Fraud: SBI Alerts Customers, Know How to Protect Yourself From Online Fraud
The Noida ponzi scam was perpetrated by seeking fake social media ‘likes’ from more than six lakh gullible investors and complaints on the email ID of UP STF have crossed 4,500 n this regard. As of now, three persons have been arrested by UP Police’s Special Task Force (STF) in connection with the case. Also Read - Online Fraud: Downloading App Costs Bengal Scientist Rs 2 Lakh
Earlier on Sunday, the STF had shared data, regarding the case, with the Income Tax department and Enforcement Directorate. As per UP STF ASP Amit Pathak, a team met Income Tax officials and shared the data collected from the Noida-based company and also analysed the data jointly.
The Enforcement Directorate (ED) conducted searches in various cities across Uttar Pradesh after it registered a money laundering case in Lucknow to probe the alleged Rs. 3,700 crore ponzi scam case.
The agency conducted raids at the business and residential premises of the owners of the said firm and others in Noida, Ghaziabad and Kanpur.
The searches resulted in recovery of incriminating documents revealing the offence of money laundering and possession of huge sum of money. The documents recovered are likely to be useful in recovery of cheated funds as well as properties acquired out of proceeds of crime beyond the frozen amount of Rs. 500 crore balance in the accounts of the company.
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The agency has also asked for details of transaction from the related banks which were used by the accused .The money trail would be investigated to further ascertain the investments and parking of the tainted money by the accused. The directorate will seek custodial investigation of the accused arrested by the Special Task Force (STF) and their accomplices.
Further to secure the investments of the public provisional attachment of all moveable and immoveable properties which are proceeds of crime or acquired by means of tainted money will be attached under Section 5 of the Prevention of Money Laundering Act, 2002. The directorate is also coordinating with the Income Tax Authority as well as STF in Uttar Pradesh.
The accused allegedly cheated about 6.5 million investors at an estimated Rs. 3,700 crore.
The Uttar Pradesh STF had arrested the owner of the company, Anubhav Mittal, its CEO Sridhar and technical head Mahesh on February 2.
How it happened?
According to the ED, the accused propagated a false story that the promotional web pages linked to these international social media portals paid Rs. six per likes out of which they paid Rs. five to the investor. The agency said the accused also promoted four systematic investment plans offering various incentives depending upon the investment made by the user.
Meanwhile, the police while informing about the modus operandi of the fraudsters, said that the fraudsters used to get people to deposit of Rs 50,000 to Rs 60,000 in exchange of linking them to social trade business portals.
The multi-level marketing and ponzi schemes were run by Ms Ablaze Info Solutions Private Ltd, Ms Social Trade India Pvt Ltd, Ms 3W Digital Pvt Ltd and Ms Intmaart India Pvt Ltd.
The agency added that all these firms were the brain child of Mittal and others.
(With inputs from ANI)