Epaper | TimesGroup - Times Of India

NOIDA   Unlike Legit Social Network, Social Trade Raised Funds Via Subscriptions Anubhav Mittal, who is  defendant  of engineering a Rs  three ,700-crore Ponzi scam online, eventually wanted to set up  associate  Indian version of Facebook.He used the Ponzi scheme as a  means that   to induce  there, giving the old  idea  of pyramid  promoting  a digital-era dressing. Based on what investigators and investors claim, Mittal, a 26-year-old BTech graduate, designed his Ponzi scheme as a digital  promoting  initiative. He created a domain, Social Trade, with its own servers and an exclusive  scheme  of users. Social Trade functioned like any other social networking  web site . A user who registered got  associate  account. Only , in this case, one needed to `invest', or pay a subscription -in four slabs of Rs 5,750, Rs 11,500, Rs 28,750 and Rs 57,500.If anyone wanted to promote a business,...

As government agencies probe  what's  believed to be  one among   the most important  Ponzi scams to surface in recent times, thousands of its investors congregated in  urban center  to voice their support for a  theme  that helped them  build   cash  and  that  they believe is  dead  legitimate. Vikas Gupta,  WHO  runs a store that sells broadband  net  devices, was among around  four ,000 Social Trade investors  WHO  had  landed  up at Jantar Mantar on Sunday afternoon.  several  of them carried placards in support of Anubhav Mittal, the  founding father of  Social Trade that  secure  returns for  touching  likes on  on-line  links. Gupta,  WHO  is from Meerut, said , “I had  a procurement  of  most   fifty  connections a month.Last year, I took a subscription...