Social Trade scam: What we know so far

NEW DELHI: Busting an online fraud to the tune of Rs 3,700 crore, the Uttar Pradesh police have arrested three persons alleged to have duped nearly 7 lakh people through an online portal ‘socialtrade.biz’. The ‘investors’ were cheated under a scheme named Social Trade. What we know so far:

• The Uttar Pradesh STF on February 2 arrested Anubhav Mittal, along with his company’s CEO Sridhar and technical head Mahesh.
• Complaints has crossed 4,500 on the email-id of UP police’s Special Task Force (STF) which has arrested three persons in the Rs 3,700 crore online fraud scam.
• The agency conducted raids at the business and residential premises of the owners of the said firm and others in Noida, Ghaziabad and Kanpur, officials said adding “incriminating documents”, that reveal assets worth crores of rupees of the accused, were seized.
• The Enforcement Directorate (ED) has registered a money laundering case and sought details from UP STF team for further probe in the case. UP STF and Special Investigation Team assisted the ED. Digital evidence was being further collected.
• UP STF has got information that in several parts of the country and other states too, FIRs are being filed against the company.
• A day after conducting multiple raids in Uttar Pradesh, the Special Task Force (STF) on February 6 sealed the house of ponzi scam accused Anubhav Mittal’s wife Ayushi Mittal.
• Chief Minister Harish Rawat's chief spokesman Surendra Kumar on February 7 accused the BJP of having a deal with Noida-based online company which is allegedly involved in Rs 3,700 crore ponzi scam.
• Reports surfaced on Wednesday that UP Police may also question Bollywood actor Sunny Leone in the alleged Rs 3,700 ponzi scam. The alleged kingpin and the owner of the company Anubhav Mittal had organised his birthday party and Sunny Leone and Amisha Patel were present during the event. According to sources, Leone was also invited by Mittal for the launch of an e-commerce portal on November 29 last year.
• Taking Leone’s side her husband Daniel Weber, who also manages her work schedule, said she went to Greater Noida to take part in a fashion event on November 29.
• Anubhav Mittal was on February 8 remanded in five-day police custody by a court in Greater Noida. Civil Judge (Junior division) granted Mittal's custody to police, which will now question him about the scam.

(With inputs from agencies)