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UP STF Unearths Rs 37,000 Cr Online Fraud, 3 Arrested

(Representative Image)

New Delhi: UP Special Task Force has unearthed one of the biggest online frauds – claimed to be around Rs 37,00 Cr – in recent times which was being run under the aegis of social trading.

Three people have been arrested and so far and further investigation is underway.

Preliminary investigation revealed that a company called Ablaze Info Solutions Limited located at Sector-63 in Noida duped around 7 Lakh people and took an investment of approx Rs 3,700 Cr from them under “Earn Rs 5 per click” scheme.

“The accused persons running a Web portal – social – where an investor has to pay from Rs 5750 to Rs 57500 in the company’s account to become the member and earn Rs 5 per click. So far we managed to track around Rs 500 crore and already seized company’s bank accounts,” police said.

They used to constantly change their company’s name to evade arrest. Some of the companies they floated to dupe people are: to,, etc.