New Delhi: UP Special Task Force has unearthed one of the biggest online frauds claimed to be around Rs 3,700 crore which was being run under the guise of online trading.

Three people have been arrested and further investigation is on.

Preliminary investigation revealed that a company called Ablaze Info Solutions Limited, located in Noida Sector-63, duped around 7 lakh people and took an investment of approximately Rs 3,700 crore from them under the ‘Earn Rs 5 per click’ scheme.

"The accused persons were running a web portal — social trade.biz — where an investor has to pay from Rs 5,750 to Rs 57,500 in the company's account to become the member and earn Rs 5 per click. So far, we managed to track around Rs 500 crore and already seized the company's bank accounts," police said.

They used to constantly change their company's name to evade arrest. Some of the companies they floated to dupe people are: socialtrade.biz to freehub.com, intmaart.com frenzzup.com, 3W.com etc.