Anubhav Mittal's Social Trade duped 6 lakh people of 3,700 Crore

Socialtrade.biz started as social media Exchange Company a year back. Anubhav Mittal was the man behind the creation of this Ponzy like based MLM based on Pyramid scheme.

Social trade’s business was based on social media likes. For each website one clicked on their site and for each facebook like of pages on their website members were promised to get 5 rupees. But to do so one has to pay them upfront to create a registered ID with them. 

 

Their plans consisted of STP 10
Rs.5750
STP 20
Rs.11500
STP 50
Rs.28750
STP 100

Rs.57500

In no time Anubhav Mittal was able to have 6.5 lakh members who joined this network and mostly people who have joined this like scam were from corporate as well as general masses. 

When special task force arrested Anubhav Mittal, raided their office in Noida and found that their server got 100000 complaints from people who were not getting payments.



Special Task force arrested Anubhav Mittal who used to draw 5 lakh from the company every month as a salary while his office in Noida was on rent and he would pay 7 lakh per month as rent. Police also found 250 passports of the high performers who brought a lot of people into this ponzy scheme.  Police have also found that 520 cr was deposited in 12 accounts of the company.

Even though Mittal was arrested he received support from a lot of members who raised slogans like long live Anubhav Mittal.

Mittal started a company called Ablaze info solution private limited in 2010 and in 2015 he got into the like business. Socialtrade.biz was the site which provided likes to the members, He convinced 6.5 lakh people that they get 6 rupees per like from the third party and they paid 5 Rs/like to their members, people believed in him as they saw the money that was coming in huge amount as they make others join the system.

Further investigation is going on and the truth about socialtrade.biz will come to light and with that we will know.

 


By : Admin| Company Name : Anubhav Mittal's Social Trade duped 6 lakh people of 3,700 Crore| Title : Revshare-Hype-Internet marketing|Date : February 04,2017

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