Ablaze Ponzi scam: Father of prime accused arrested

The Special Task Force (STF) of the Uttar Pradesh Police has arrested a director of the Noida-based firm involved in the alleged Rs 3,700 crore Ponzi scam, which promised money to lakhs of gullible investors in lieu of likes on social media.

"Sunil Mittal, father of the alleged kingpin of this case Anubhav, has been arrested from Ghaziabad last (Friday) night. He also one of the directors of Ablaze Info Solutions Private Limited," SP of the STF, R N Mishra said.

Anubhav had allegedly transferred Rs 5 crore to Mittal Electronics, where Sunil Mittal is the proprietor, before the scam was detected, the officer said.

The STF had earlier arrested four persons, including the owner of Ablaze Info Solutions Private Limited Anubhav Mittal, and is looking for his wife Ayushi who is absconding.

According to the Enforcement Directorate, the fraudsters allegedly cheated around 6.5 lakh gullible investors of an estimated Rs 3,700 crore.

Apart from a Special Investigation Team, being helped by the STF, the Enforcement Directorate has also registered a case of money laundering on the basis of the FIR registered by the STF in connection with the alleged multilevel marketing Ponzi scheme.