Social Trade Biz Scam News
As per the latest and recent news Social Trade has been shut down. Socialtrade.biz was working on MLM model.The accused used to run a portal ‘socialtrade.biz’ under which an investor had to pay anything between Rs 5,750 to Rs 57,500 in the company’s account to become the member and earn Rs 5 per click.
And as per the news released by Zee. It is a scam of 3700 Crore Rupees. This news is released by two news channels. Zee and News India . You can watch the videos given below for more clarification. However as per the video it seems that Social Trade Biz has been closed and shutdown. And it was the biggest online scam. Social Trade Biz seems to be fake. This company has changed their name thrice. It was know by Ablaze Info Solutions Private Limited. After speak asia, Social Trade Scam has taken place. It is also considered to be the biggest fraud. They were growing day by day recently by their referral program. And everyone who was registered on their platform, was looking for more referrals to earn more. Thus they were getting more registrations. The force has also sealed the bank accounts of the company, based in Sector 63 here, which had a total balance of Rs 500 crore.
They used to constantly change their company's name. Some of the companies they floated to dupe people are: socialtrade.biz to freehub.com, intmaart.com frenzzup.com, 3W.com etc.
Social Trade Scam by ABP LiveABP Live News on Social Trade Scam
Social Trade Scam by Times of IndiaSocial Trade Scam TOI
Social Trade News
Social Trade is a social media exchange portal under the aegis of Ablaze Info Solutions Private Limited. We have been constantly working on bridging the gap between internet world and the common man, and Social Trade is yet another initiative in this direction. The STF has also informed the Reserve Bank of India (RBI), the Income Tax department and market regulator SEBI about the case. Besides seizing Rs 500 crore from a bank, police have seized various documents including the balance sheet of the company, list of directors and other officials and list of investors. Social Trade Scam also considered to be the biggest online fraud.