Socialtrade.biz Scam Exposed – 7 Lakh People Cheated for Rs 3700 Crore

UP Special Task Force has unearthed one of the biggest online frauds claimed to be around Rs 3,700 crore which was being run under the guise of online trading.

Three people have been arrested and further investigation is on. Preliminary investigation revealed that a company called Ablaze Info Solutions Limited, located in Noida Sector-63 duped around 7 lakh people and took an investment of approximately Rs 3,700 crore from them under the ‘Earn Rs 5 per click’ scheme.

“The accused persons were running a web portal – Socialtrade.biz, where an investor has to pay from Rs 5,750 to Rs 57,500 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 the company’s bank accounts,” police said.

There are many companies like social trade on the internet which is trying to scam people. Socialtrade Scam maybe not the biggest scam now, there might me much other companies like this which are cheating people. Don’t trust Scam sites like social trade, Before investing money on any site, research about it very well. Don’t invest blindly on fraud sites like a social trade.