What is Social Trading?
There’s a lot to cover when it comes to understanding the Social Trade scheme. It’s a complex affair that stretched on for more than two years and involved several people all with different roles that they played. While getting into the ins and outs is going to take a huge amount of effort, we can at least start small. After all, few of us have the ability to take in such a huge amount of information all at once. Especially with little context.
At the core of the Social Trade scandal was a clever yet terrible person who ran a Ponzi scheme. He thought he’d be able to get away with it all, but ultimately got taken down by the legal system. This just goes to show you that no matter how clever you think you are, eventually you’ll still get caught in the act.
While that may seem simple enough on the surface level, several questions quickly arise. First and foremost is what, exactly, is social trade a Ponzi scheme? It’s a term that most of us have heard over the years, but I know that I personally have never done any investigating to uncover just what exactly it means. Answering that question will take a bit of explaining. Unfortunately, it’s not a quick and simple explanation.
So, settle down, strap in, and prepare for a crash-course on one of the worst business tricks that are often pulled on unsuspecting innocent people. The more information you take in about all of this nonsense, the more it might help you to prevent being a victim yourself in the future. So pay attention. It’s time to learn all about social trade and other Ponzi schemes like this.
Should We involve ourselves in this Social Trade Platform or not?
To begin, Ponzi schemes revolve around the idea of investments. Investments are traditionally made through banks or other financial institutions. Sometimes a financial advisor or stock broker can help you facilitate them as well. Really, if the investment is on the up and up and 100% legit, there’s nothing wrong with taking part in it. If you play your cards right and invest with a sure-fire hit, you could end up seeing huge returns on that initial money. I’m sure this is what the poor people who were suckered in were thinking as well. Unfortunately, things didn’t turn out quite so well for them.
The scheme is credited to Charles Ponzi, a notorious figure of the 1920’s who first started carrying out the money-draining crime. While Charles had a bit of brain and creativity, it’s unfortunate that he put those gifts to bad use. He really could have done some good, and instead chose to hurt others and steal from them on top of it all.
To put the scheme in simple terms, the benefactor of the scheme reaches out to potential investors. This may seem like an innocent enough exchange of information with the person that’s being targeted, but the benefactor is already sizing them up and trying to get everything they can out of them.
If an investor donates money, they’re promised a return on said investment. While there usually isn’t a specific time given for exactly when they’ll see the money, the promise is explicit. It’s built to prey on those with little resources who are desperate for any type of financial lucidity. The benefactor then moves on to another potential investor. Once they’ve donated money, the previous investor gets a small portion of their funds back while the benefactor keeps the majority. I’m sure you can already see where this is going.
How does the social trade Scheme work?
The person running the scheme keeps a small enough trickle of money coming back to those involved so that it looks like there’s some profit being made when the reality is no one is making a penny save for the criminal themselves. This act of deceit continues on and on until there are no more investors willing to donate money. The process can take years, leaving those taking part basically powerless to say or do anything, since technically- from their perspective, at least- they are making some of their initial investment back. But these things rarely last. It’s at this point that the entire Ponzi scheme comes crashing down.
There are a few tell-tale signs that a business investment is a scheme. While none of them aren’t easy enough to spot with little experience in the financial world, it’s not impossible. If you’re clever enough to pay attention to what’s going on around you, and what’s being said to you, anyone can gather enough information to determine if an offer being made is legit or not.
For the most part, you need to pay attention to see if the investment is coming apart at the seams. For the most part, people who run schemes like this have a difficult time managing all the various and intricate aspects without slipping up every once in a while. When it happens, though, it sticks out like a sore thumb. What are a few examples of those seams tearing? Well, let’s get into them, shall we?
Is the initial benefactor starting to pull a vanishing act?
When it comes to business partners, communication is key. You should be able to get in touch with them at a moment’s notice during standard business hours. If hours, days, and weeks are passing with little to no word from them, that’s your first sign that something is terribly wrong. Be vigilant, and hold anyone handling your money accountable. It’s your money, after all- if you don’t care for it, who will?
Are you getting less and fewer returns on your investment as time passes? At first, to keep victims happy and satiated with their investment, financial predators may make larger payments on returns up front, to make things look legit and on the up and up. This, of course, makes the victims feel secure. It leaves them feeling confident like they made the right decision to invest. While that may be a great feeling of security under normal circumstances, in this case, it’s false and is only meant to prolong how long it takes the victim to figure out that there is a problem.
These may all be signs that whatever business dealing you’re involved with may not exactly be on the up and up. While you should most likely speak with a lawyer to confirm this before making any accusations, it is a strong sign of this being the case. You may be part of a Ponzi scheme. Once you’ve dealt with the harsh truth, and have made peace with it, the next step is to take action. Do something about it. Do not let yourself be a victim any longer than you have been already.
The smartest thing you can do is try your best to get as much of your money back as possible. Work with the authorities, a lawyer, or whoever else you have to to get that money back safe and sound where it belongs… with you, in your own personal account. This will not be an easy road to travel, but it is one that you must walk down. If you do not put up the fight for your money, you will never get it back. It’s now or never, so do everything within your power.
Once that’s taken care of, notify the authorities. It’s not enough that you have your money back, but you have to help ensure that the people responsible will never be able to do this to other people. Once a criminal, always a criminal. Even in the world of business and finances. It may sound harsh, but the fact is these people do not care about you or your well-being. So, don’t care about theirs. Get your money back, get them arrested, shout from the rooftops who they are and what they are capable of, and then get on with living your life. Make smarter business decisions in the future.
Always Invest Smartly!!
As with all aspects of the business world, the key is to be smart and cautious with your investments. There are hundreds, thousands even, of investment offers out there in the world. Some of them are legit, but many are not. You have to learn to distinguish the good from the bad, and you have to be able to spot the bad ones from a mile away.
Criminals can smell inexperience on a person, and if you are not careful, you may just find yourself in the middle of a terrible situation that is quickly spiraling out of your control. Criminals and thieves are experts and deception, and it can be incredibly easy to be taken in by their claims. They spend their lives refining their lies. Their entire lives revolve around living a lie, so it should come as no surprise that spotting those lies is a tricky thing to pull off.
Do your research. If an offer seems too good to be true, it almost certainly is. The strain of modern life can make easy money hard to pass up, but that is what these criminals are betting on. The fact is you are better off saving or investing your money in certain cases. Research can make the difference between you rolling in cash, or unfortunately being left penniless. Always know just what you’re getting into, and think twice before signing on that dotted line. These things matter and can determine the next several years of your life. You wouldn’t take a risk when it came to your health, so why would you with your hard-earned money?
Now that we have some of the basics of Ponzi schemes and the Social Trade scheme laid out on the table in an easy to understand fashion, it’s time to get into the meat and potatoes. With that said, this is, in essence, how the Social Trade scheme was carried out. What follows may seem hard to believe, but it actually happened as written. There’s a bit more complexity to it, but we’ll get to all of that shortly. For now, let us examine just how terrible some people can be to their fellow man. It is certainly an ugly situation, to say nothing of how unfortunate it is that so many good people got suckered into it for such a long period of time.
Team Running the Social Trade Platform
Before moving on to the deeper complexities of the Social Trade scheme, let’s take a closer look at the man who set it all into motion. As with all criminals, he is not a decent human being. If anything, his actions prove him to be exactly the opposite. Anubhav Mittal, while obviously intelligent, used those smarts in an incredibly selfish and stupid manner. It got him and his partners rich, but at what price? What good is money if it comes at the expense of other’s well-being. I suppose it is true that some people just don’t care about anyone but themselves. How sad and unfortunate.
But where does this pathetic man come from? What rock did he crawl out from underneath?? And how did he make it so far and yet fall short in the end? Well, it turns out he has a fairly standard background similar to many other people out there. Most criminals come from simple backgrounds, and it is simply a case of their moral compasses being broken beyond repair. Thankfully, this isn’t something that afflicts most people. On average, people tend to be decent human beings who only want to get by in life without infringing on others and their well-being.
Anubhav Mittal attended a BTech University where he trained in the same skills and learning that others around him received. Where he branched out from those other people, however, has he used his skills for ill intent. He started small, learning the ins and outs of programming, social media, and money laundering. Soon enough, however, he was putting all of those skills to work alongside a few other equally terrible human beings. The scheme snowballed from there and grew into the incident we now know.
Social trade is a Big Scam!!
Mittal isn’t some evil genius with a giant master-plan. That is often the picture people paint of criminals like this in their minds, and that only serves to give them far more credit than they deserve. He was just a guy clever enough to trick people into participating in a Ponzi scheme. Unfortunately, this is a common occurrence in the modern world. I’d like to believe that this will be the last one, but happenings like this pop up all over the world repeatedly. He’s not unique in the history of criminals- the truth is he’s quite average and common. If anything, the fact that he was caught as easily as he showed that he’s below average. Mittal got away with a dumb crime for a short amount of time before ultimately getting caught
There are cases of schemes like this going on for years and years. They often leave the victims broke, poor, destitute, and financially ruined. In some cases, for the rest of their lives. Thankfully, this is how most criminals of this variety go down. Let Anubhav Mittal’s actions serve as a cautionary tale for you. Always think twice about investments. Maybe take a class in learning behavior traits and how to read people. If you cross paths with someone who is offering you a deal that seems too good to be true, it most likely is. I know this has been stated multiple times, but it can’t be said enough.
Private companies don’t ask for upfront investments. There’s no need for them to- they have the capital they need at the start of the company to accomplish what they’re setting out to do without taking from someone who has very little funds to their names. If they do ask you about an initial investment, it’s usually for partial ownership of the company itself. This is how you can tell a scheme from the real deal. There’s a level of openness, transparency, professionalism, and stability that real companies offer. Criminals, even if they’re clever, just can’t compete in that regard.
Measures to keep in mind before opting for these kinds of schemes
Take a good, long look at the offer being made to you, and consider even having a lawyer look over it. While a lawyer’s fees might set you back some money as well, at least you will have peace of mind when it comes time to hand over your money or not. This should be done before you make any financial investment whatsoever. If you are being pressured to hand over your money immediately, that’s yet another red flag that the offer isn’t legit.
In the business world, it’s rare that a deal has to be completed in little to no time. Things in the business world run slow, and for good reason. Legal matters take time. Transferring money, and going through proper channels takes time. It is these steps in the process that help to make sure that everyone gets what is coming to them, for better or worse.
Remember, those who would prey on innocent people are hoping that you won’t have the know-how or business savvy to keep your assets safe. They will often try to dazzle or confuse you with big language or speaking really fast in the hopes that you’ll be transfixed by them and act without thinking properly about what’s actually happening, or what’s being said to you about your money. Security can never be understated when it comes to those looking to separate you from your hard-earned money. Question everything, and do what you have to do to make sure that you’re not being taken for a ride, so to speak.
So, just what is Social Trade? It’s a good question- one that’s at the root of this entire mess. While it’s a bit complicated, I’m sure we can break it down. Nothing is too complex that it can’t be dismantled and understood. If you start asking questions to someone who is trying to take your money, and they can’t answer your questions or work hard to give you non-answers, think twice about giving them the benefit of the doubt.
Social trading, in a nutshell, starts with online investors. Most schemes of this sort start small, with unsuspecting people who are desperate to get a leg up on life. In these modern difficult times, who can blame them? Sadly, that’s what criminals are betting on. These investors dump their money into an online front, and it’s from there that things get interesting. The fronts are usually sketchy looking sites filled with empty pages, tons of pop-up adverts, and little to no meaningful content.
The investors then depend upon financial content that’s created by that sites user base, along with other website tools and apps. The dissolution of duty is what helps to muddy the water. This is what makes the jobs of the criminals easier than if they were to deal directly one-on-one with a small handful of individuals. When there are several people all with different roles, it becomes next to impossible to determine who, if anyone, is doing something wrong. Decisions made by investors revolves around said content from the user base.
This is another sign of potential fraud. If you’re trying to get a simple answer about a simple topic, and you have to go through more than two or three people, you’re never going to get the answer you’re looking for. You’re also more likely than not stuck in the middle of a Ponzi scheme. Such is the case of those who got wrapped up in the Social Trade scandal.
While this financial trading isn’t strictly illegal, it does create innovative ways of looking at financial information. In that regard, the criminals show that they were smart enough to show their skills at working over and manipulating the financial industry to their whims. This is done by comparing various approaches and trades. The trading can be quite lucrative for those smart enough to read the waters of the financial world. It’s just a shame that these men chose to take those talents and use them in such a crass way that ended up hurting others and ruining their lives.
Social trading sites and networks are easy enough to define. Just think of them as variations of social networks. There are stock market social sites and apps, along with other financial locations online that encourage dissecting the world of money trading. By discussing these matters with others, tight-knit communities are created. That’s how easy they are to opt into.
If you don’t know what you’re doing, it’s far too easy to get lost down a deep rabbit hole that could end up costing you everything that you worked so hard to earn over your life. So again, buyer beware when it comes towards investments. Those who don’t know what they’re doing can quickly find themselves losing their shirts… or more. While the social aspects are tempting, there has to be a balance with smart, critical thinking.
The Social Trade scandal is so large and far-reaching that even Mittal’s father has been arrested. It may seem hard to believe, but an entire family unit was involved in this mess. I suppose this could be a case of nurture over nature. I’m sure Mittal’s father raised him terribly if this is the man he grew up to become.
While Anubhav may have been the brains and chief operator behind the scam, his father, Sunil Mittal, was the mastermind behind Social Trade. He put the false business plan together, built an outline as to how they could achieve it all, and pushed those around him to actually act out the plan. As a result, Sunil is facing multiple counts of fraud in regards to the case.
What counts has this terrible father managed to rack up for himself? They’re juicy, that’s for sure. The counts include forgery, cheating, forging multiple documents, and criminal conspiracy. That’s a long list of crimes for one single scheme, and I hope each and every one of them sticks to him during the trial and outcome.
Any single one of these charges would be cause for concern, but all four mean that Sunil is in deep legal trouble. This is all sure to keep him tied up at phase 3 police station. I somehow doubt he’ll be seeing the outside world for a very long time to come. Given how many lives he ruined in the process, I can’t say I feel any sympathy for him. Here’s hoping he gets everything that’s coming to him.
According to the led officer on the case, Raj Kumar Mishra, Sunil had been on the run since the arrest of Anubhav and his two accomplices. Not only is he a terrible father, but when the going got tough, he ditched his son and went out on the run from the law. You don’t get much worse than that when it comes to parental figures. Apparently, Sunil was spotted in Ghaziabad. Once the information was confirmed, the authorities immediately leaped into action.
Police surrounded his location, and he was brought in with little effort. Things could have gone far worse, as criminals have a tendency to put the lives of others at risk when they find themselves backed into a corner facing off against the law. People could have been hurt if the situation turned ugly, so it’s fortunate that the arrest went as well as it did. He’s currently behind bars where he belongs, and it’s unsure what the next stage of his prosecution will be. I’m sure no one is in any rush, however, given the number of people affected by his terrible Ponzi scheme.
This all dates back to 2015 when Anubhav, Sunil, and their accomplices- Shridhar Prasad and Mahesh Dayal- began carrying out the Ponzi scheme. I’m sure at the time they were worried about how it would turn out. You can see this in their actions, and the way the scheme initially played out. They were slow-paced in their moves, and extra careful not to scare anyone off, or tip them off to their true intentions. The further into a scheme criminals get, however, the more comfortable and lazy they get. It’s these moments that end up acting as cracks along the way that they trip over.
They started off small and innocently enough, claiming that people who contributed funds would be able to generate profit without even having to leave the house. As a side note, this is perhaps the biggest red flag for cause for worry out of the entire scheme. If you’re promised profit without ever having to leave the house, put on your skeptic hat, and leave it on through the entire process. Easy money doesn’t really exist, let alone money you can earn by doing next to nothing. It’s an easy lure for the uninformed. So, take that into consideration the next time someone tries to sell you on a sure-fire way to get rich quick.
The subscription payments had a wide range. This is another red flag, as criminals want to present the idea that you’re the one in control of how much money you’re giving them. The truth is, you’re still giving them money regardless of how much or little it is. Payments would vary from Rs 5,000 all the up to Rs 57,000. I’m sure most of the victims felt secure in those investments, seeing as they were choosing the amount. From there, contributors were instructed that they would be given random URL links and that they would receive Rs 5 for every “Like” they gave.
Internet schemes are funny- they’re usually based on the hope that the victims have little to no understanding of how social media works. Likes are bought, traded, and sold in bulk from one company to another. They’re generated by fake accounts. As a result, most companies have little to no use for you going out there and liking individual pages one at a time. Those numbers aren’t really going to do anything for them, let alone earn them so many profits that they’re able to kick some down to you.
Anubhav and his team told people that they were working through a third party social marketing company to advertise across multiple platforms. The investors would be taking links assigned from this supposed company. By liking the links provided, they supposedly would be building the company, along with each other’s revenue. That was what they were told, at least. The truth was far more sinister, as we have all come to discover. Avoiding online offers like this all together is usually a good idea for the most part. Even the ones that are legit won’t really earn you money that’s worth the time you’ve invested. You’re better off finding a job that allows you to work from home on your own terms.
Investors were given between 25 and 175 unique URL’s daily and were expected to go through each and every one of them. The scheme started to unravel once investors began complaining But why, exactly, were they complaining? Well, it seems that Anubhav and co. weren’t smart enough to create a fake financial listing within each investor’s personal account. Meaning, when they would like each link provided, it wasn’t reflected financially. No matter how hard each of them worked, they wouldn’t see their funds go up.
So, here we are. The entire group of criminals has been arrested, and their operation took down for good. While some of the money has been returned to those who have invested, it’s unlikely that they’ll ever get it all back. At this point, all we can hope is that Anubhav and his cronies get the book thrown at them. For how much pain and damage they caused, they don’t deserve to be out in the world as free men. Nothing’s stopping them from doing this all over again.
If anything, let’s hope that this serves as a warning for others considering on trying to pull off the same scheme. While it may seem like an easy way to sucker poor unsuspecting people out of money, there will always be a moment where they slip up and fail, and that’s usually when the authorities step in and shut it all down. None of these schemes have ever fully gone off without a hitch. There really is no such thing as easy money, even for criminals.
Protect your finances, and always beware of offers that are too good to be true.