Chargesheet in Noida ‘like’ Ponzi scam on Monday

NOIDA: UP police’s special task force will on Monday file its chargesheet in the Rs 3,700-crore

Ponzi scam

.

The scam was busted this February in Noida and revealed a whole new modus operandi of dubiously raising funds by promising returns to subscribers of the scheme on the basis of the number of pages or links they liked.

Anubhav Mittal

, the mastermind of the scheme that operated under the name of Social Trade, was arrested by the

STF

on February 2. His two aides, Shridhar Prasad (40) — an MBA who was the CEO of his company, Ablaze Info Solutions — and Mahesh Dayal (25) were also arrested.

The chargesheet will be filed against them for allegedly cheating thousands of people through the scheme. Social Trade had reached 6.5 lakh subscribers when it was busted. The STF team has prepared 300-page chargesheet with details of various aspects of the Ponzi scam.

Anubhav (26) holds a B-Tech degree. Two others have been arrested during the course of the investigation — Atul Mishra, business relations manager of a private bank in Ghaziabad, and Mittal’s father Sunil Mittal (50), a former director of Ablaze. Anubhav Mittal’s wife Ayushi, who was appointed co-director in place of Sunil, is also an accused in the case but she has got a stay on her arrest from court, police said. ED is also investigating the scam.