Sat, Jun 24, 2017 | updated 02:28 AM IST

Ponzi scam: ED freezes dozen accounts in Noida containing over Rs.500 crores

Updated: Feb 17, 2017 20:31 IST      
Ponzi scam: ED freezes dozen accounts in Noida containing over Rs.500 crores

Noida (Uttar Pradesh), [India], Feb. 17 (ANI): The Enforcement Directorate on Friday registered a case of money laundering on the basis of FIR registered by Special Task Force (STF), Uttar Pradesh Police in the case of multi level marketing and ponzi scheme running at Noida.

A group of persons and companies have been found to be involved in cheating of approximately 6.5 lakh investors to the tune of Rs. 3700 crores in the name of promotion through likes on the URL's sent by them.

The investigation in the said case is being done expeditiously and as a result of that simultaneous searches at five premises located at Kanpur, Ghazibad and Noida belonging to offenders have been conducted by the Directorate of Enforcement, Lucknow Zonal Office today.

Modus operandi of the accused according to their business scheme as alleged were that through their web portal they promoted a scheme whereby liking the webpage which were fictitiously shown associated to International Social Media Groups like Google and Face Book the users will earn money.

The accused persons propagated a false story that the promotional WebPages linked on these International Social Media Portals pay Rs. 6 per likes out of which they pay Rs. 5 to the investment/ user.

The accused also promoted four systematic investment plans offering various incentives depending upon the investment made by the user.

The multilevel marketing and ponzi schemes were run by M/s Ablaze Info Solutions Private Ltd, M/s Social Trade India Pvt Ltd, M/s 3W Digital Pvt Ltd, M/s Intmaart India Pvt Ltd.

All these companies are brain child of one Anubhav Mittal, Ayushi Agarwal and others.

Preliminary enquiry under provisions of PMLA has revealed that incriminating documents relating to cheating of funds from public at large and documents pertaining to investments of cheated funds in valuable assets, have been secreted at various places.

The searches have 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 500.00 crore balance in the accounts of the company.

The Directorate has also asked for details of transaction from the related banks which were used by the accused persons.

The money trail will 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 (STF) and there 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 Special Task Force (STF).

The Enforcement Directorate had earlier registered case against the company and the director Aubhav Mittal in the first week of February. (ANI)

New Delhi [India], June 24 (ANI): Maintaining the same stand on their presidential nominee, the Congress Party hopes that the Janata Dal (United) changes its stance and puts its weight behind Meira Kumar, the 'daughter of Bihar'.

Full Story >>

Patna (Bihar) [India], June 23 (ANI): A Rashtriya Janata Dal (RJD) worker was allegedly thrashed and beaten by state Health Minister and party member Tej Pratap Yadav on the suspicion of being a Rashtriya Swayamsevak Sangh (RSS) 'agent'.

Full Story >>

New Delhi [India], June 23 (ANI): The Ministry of External Affairs (MEA) on Friday confirmed that the pilgrims visiting Kailash Mansarovar through Nathu-la in Sikkim faced some difficulties from the Chinese side, adding the issue is being discussed with them.

Full Story >>

Moscow [Russia], June 23 (ANI): The meeting of the India-Russia Inter-Governmental Commission on Military Technical Cooperation concluded here on Friday, in which Defence Minister Arun Jaitley and his Russian counterpart General Sergey Shoigu signed a roadmap for boosting bilateral military cooperation.

Full Story >>

The Hague [Netherlands], June 23 (ANI): West Bengal Chief Minister Mamata Banerjee on Friday received the highest prize in United Nations Public Service Award for the state government's Kanyashree Prakalpa (Girl Child) scheme in The Hague, Netherlands.

Full Story >>

Haryana: Man murdered after argument over seat in train

Updated: Jun 23, 2017 22:44 IST     

Palwal (Haryana) [India], June 23 (ANI): A man was murdered after a scuffle broke out in a train over a seat in Haryana's Palwal, said the police on Friday.

Full Story >>

ED registers case against terror outfits, Hurriyat

Updated: Jun 23, 2017 22:21 IST     

New Delhi [India], June 23 (ANI): The Enforcement Directorate (ED) on Friday registered a case against Lashkar-e-Taiba chief Hafiz Saeed and members of Hurriyat Conference, Hizb-ul-Mujahideen and Dukhtaran-e-Millat under Prevention of Money Laundering Act (PMLA).

Full Story >>

Bharatpur (Rajasthan) [India], June 23 (ANI): After Jat protestors in Rajasthan blocked railway tracks seeking OBC quota reservation for the community belonging to Dholpur and Bharatpur districts, Jat leader Vishvendra Singh on Friday stated that if government was willing to provide reservation, it should be given in writing.

Full Story >>

'Bihar ki beti' Meira nominated to lose: Nitish Kumar

Updated: Jun 23, 2017 21:43 IST     

Patna (Bihar) [India], June 23 (ANI): Janata Dal (United) (JD(U)) chief and Bihar Chief Minister Nitish Kumar on Friday said 'Bihar ki beti' Meira Kumar has been nominated as the Presidential candidate by the Opposition only to lose.

Full Story >>

Lalu brand ambassador of 'Jungle Raj', says Giriraj Singh

Updated: Jun 23, 2017 21:43 IST     

New Delhi [India], June 23 (ANI): Minister of State for Micro Small and Medium Enterises Giriraj Singh has described Rashtriya Janata Dal (RJD) leader and former Bihar chief Minister Lalu Yadav as the "brand ambassador of Jungle Raj".

Full Story >>

New Delhi [India], June 23 (ANI): A day ahead of his three-nation tour, Prime Minister Narendra Modi on Friday said that he intends to strengthen ties will all the three nations - Portugal, The Netherlands, and the United States.

Full Story >>

New Delhi [India], June 23 (ANI): The Central Board of Secondary Education (CBSE) on Friday told the Delhi High Court that it will re-evaluate the answer sheets of students who have asked for it.

Full Story >>

New Delhi [India], June 23 (ANI): Union Minister for Information and Broadcasting M. Venkaiah Naidu on Friday stressed that Centre's presidential candidate Ram Nath Kovind has the backing of all NDA partners and his victory is assured

Full Story >>

Srinagar (Jammu and Kashmir) [India], June 23 (ANI): The spokesperson of the National Conference (NC), Junaid Matoo, on Friday expressed shock and anguish over the brutal killing of a deputy superintendent of police in Srinagar and said that this act of barbarism should be condemned unequivocally by all.

Full Story >>

Lucknow (UP) [India], June 23 (ANI): Uttar Pradesh Chief Minister Yogi Adityanath on Friday said the Opposition parties named Meira Kumar as their Presidential nominee to "divide and disrespect Dalits."

Full Story >>

Hyderabad Police arrests 22-yr-old ISIS sympathizer

Updated: Jun 23, 2017 20:42 IST     

Hyderabad (Andhra Pradesh) [India], June 23 (ANI): A 22 year-old was arrested by the Hyderabad Police on Friday on the suspect of being an ISIS sympathiser and attempting to carry out subversive activities in the country.

Full Story >>

NDA's GST format is complicated: Congress

Updated: Jun 23, 2017 20:42 IST     

Mumbai (Maharashtra) [India], June 23 (ANI): With a week left for Goods and Services Tax (GST) to be implemented, the Congress Party on Friday said the NDA government's 'uniform tax regime' is complicated and will cause trouble in the future.

Full Story >>

Chouhan asks Centre to purchase bumper crops

Updated: Jun 23, 2017 20:41 IST     

New Delhi [India], June 23 (ANI): Madhya Pradesh Chief Minister Shivraj Singh Chouhan on Friday said the Centre has given an assurance that it will buy onions and various kinds of lentils from farmers in the wake of a price fall and a 20 percent agriculture growth in the state this year.

Full Story >>

Railways call on Jats to end their protest

Updated: Jun 23, 2017 20:41 IST     

New Delhi [India], June 23 (ANI): A railway official on Friday said that the ongoing Jat protest was hindering movement of railway traffic and causing a hindrance to passengers.

Full Story >>

Mumbai (Maharashtra) [India], June 23 (ANI): The argument for deciding the quantum of sentence for the 1993 Mumbai serial blast case accused was deferred till June 27 by a Special Terrorist and Disruptive Activities (Prevention) Act (TADA) court on Friday.

Full Story >>