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"Like" Scam

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"Like" Scam Empty "Like" Scam

Post by garam_kuta Fri Feb 03, 2017 10:11 am


Noida has seen a series of call centre fraud busted over the past couple of years but this is the first racket to come to light that used 'like-trading' for a Ponzi scheme and perpetrated a fraud of this scale. Buying likes is common practice among companies that want to look better on social media. That is what Mittal's Social Trade used to spin its yarn — investors were told the company got business from a third party to increase the latter's online hits on digital platforms. The investors were given 25, 50, 75 and 125 URLs on their phones every day, based on the 'subscription plan'.

Amit Pathak, senior superintendent of police, STF, said the trio had launched Social Trade as a pyramid scheme in 2015, telling people they could earn sitting from home. "They enrolled people with subscription money ranging from Rs 5,750, Rs 11,500, Rs 28,750 and Rs 57,500. The investors were given a user ID and password and told they would get random URLs on their phone and would be paid Rs 5 per like," Pathak said.

garam_kuta

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