The Enforcement Directorate on Friday froze a dozen bank accounts containing Rs 519 crore deposits in the alleged Rs 3,700 crore ponzi scam perpetrated by seeking fake social media ‘likes’ from lakhs of gullible investors by a Noida-based firm. Earlier this month, the Directorate of Enforcement Lucknow Zonal Office had conducted searches at the business and residential premises of the owners of the said firm and others in Noida, Ghaziabad and Kanpur after registering a case of money laundering.
The fraudsters are believed to have allegedly cheated around 6.5 lakh investors to the tune of Rs 3,700 crore, which is bigger than the Saradha chit fund scam of West Bengal.
The Uttar Pradesh Special Task Force had arrested the owner of the company Anubhav Mittal, its CEO Sridhar and the technical head Mahesh on February 2.
More to follow