For the past few months, a company named Social Trade claimed themselves as Social Media Exchange website with a unique concept to make money online with good Return on Investment. The company asked people to signup for their Social Trade website and ask them to invest between Rs.5,750 INR to Rs.57,500 INR in their company’s account and promised for a good ROI under the name of ‘Earn Rs.5 Per Click’.
More than 7 Lakh people fall into this trap and invested their hard earned money. Finally, the biggest online frauds were caught and 3 people got arrested UP Police this week. A report claims, Social Trade Biz have similar companies with different names and websites such as FreeHub – freehub.com, Int Maart – intmaart.com, Social Trade – socialtrade.biz, 3W –3w.com and many other websites. They made more than Rs.3,700 crore from 7 lakhs+ people within a short period of time in the name of online trading. UP Police Task Force arrested 3 people and in their primary investigation, it is revealed that a company located in Noida, Sector-63 named Ablaze Info Solutions Limited scammed the people in the name of Social Trade Business.
Social Trade – Bank Account Seized after the SCAM
Police seized their bank account and they are able to track 500 crores of transactions and temporarily their bank account is freeze for further investigation.
A big lesson people from India should learn now, there is “NO” legit free and easy Online money making system available on the Internet. So please stay away from such companies and friends who says you will make free money online without any work. There are many companies works same as Social Trade with the same concept who asks you to pay initial money and give you some bucks in return so that you will tell about them to your friends and family and ask them to make an investment. Finally, they stop paying after few days once you sent them enough referrals. Such schemes are 100% Scams, and kindly stay away from websites and business models like Social Trade Biz.
If you are one who invested on this Social Trade, kindly file a police complaint in your nearby police station to claim and get your money back from the fraudsters account.
Comment your thoughts on SocialTradeBiz Scam, did you ever experienced it? If so, share via comment box to aware other readers. Please share this useful news with your friends and family, save them from falling to this Social Trade trap and save their hard earned money.
Hari Prasath has been a full-time Internet Entrepreneur and Life Hacker since 2014. He is a self-taught web developer and Marketing expert building many Online Businesses and testing greatest strategies with Clients during the day and at night, build Niche websites.