STF arrests Yes bank employee in 3700 crore online trading scam

Noida: The Special Task Force (STF) arrested Atul Mishra, a private bank employee, for allegedly disposing off the black money of the accused of 3700 crore online trading scam Anubhav Mittal.

Mishra is a business relationship afficer of 'Yes Bank' and was arrested by the STF in late night of Wednesday. According to the official sources, Atul Mishra was given seven lakh rupees for disposing off the money. The officers also said that he was supposed to get another lot of money, he had demanded from Mittal.

The case:

• The UP STF had busted a gang from Noida Sec 63, on Thursday last, who had gulped Rs 3700 crore in the name of online trading.
• Three people were arrested including the owner of the company Abhinav Mittal and further investigation was carried on by the agency.
• It was found that a company named Ablaze Info Solutions Limited was runing a web portal with the url social trade.biz. Company had collected Rs 3700cr under the scheme “earn Rs 5 per click”, where investors were asked to pay Rs 5,750 to Rs 57,500 for being a member over the portal.
• The police had seized the company’s bank accounts after tracking around Rs 500 crore.
• To mislead and evade arrest, the company officials used to change the url of the website such as: freehub.com, intmaart.com frenzzup.com, 3W.com etc.
• SSP Amit Pathak (UP STF) had stated, “Preliminary investigations suggest that nearly 7 lakh people have been cheated by the company and piled Rs 3700cr in their accounts.”