Company:Tornado Ponzi scam
| Type | Privately owned |
|---|---|
| Genre | Deposit mobilising company |
| Fate | Allegations that this company is a Ponzi scheme |
| Headquarters | India |
This company was previously Webwork.com.
Background
Vastrapur, Gujarat based Tornado Software Pvt Ltd also called mlm4india.com and mlmmirror.com use to web design and development but followed the wrong path and setup ponzi scheme.
Collapse
Alarmed at the Rs 3,700 crore Ponzi scam orchestrated by Anubhav Mittal's socialtrade.biz based Social Trade Scam, which involved over six lakh investors, panic gripped investors who have put their money in similar 'pay per click' plans of other companies. So some companies like these suspended operations or some started refunding investors, while others asked investors to opt for bitcoin. In this case, Tornado also started returning money as bank transfer[1] but it didn't last long and it collapsed on 20 March 2017.[2][3][4][5]
Bollywood Celebrities involvements
It was found prominent Bollywood celebrities also got mislead by scam and endorsed and advertised the scams. Actress Pooja Banerjee were seen promoting Web work.com which belongs to the group.[6][7][8]
See also
- List of scandals in India
- Ponzi scam
- Pyramid scheme
- Saradha Group financial scandal
- Corruption in India
- Rose Valley financial scandal
References
- ↑ MUSTAQUE TREND (2017-03-17), Ayurbedaoutlet, Paywaydeal Payment Problem From more than one month, https://www.youtube.com/watch?v=C9VibaEB-8Q, retrieved 2017-03-21
- ↑ "As fear spreads, some firms start refunding investors - Times of India". The Times of India. http://timesofindia.indiatimes.com/city/noida/as-fear-spreads-some-firms-start-refunding-investors/articleshow/57028884.cms.
- ↑ MUSTAQUE TREND (2017-03-20), Ayurbedaoutlet, Paywaydeal, Fruded US and Run Away, https://www.youtube.com/watch?v=3uuYMVVF3Bc, retrieved 2017-03-21
- ↑ MUSTAQUE TREND (2017-03-20), Ayurbedaoutlet, Paywaydeal, Scamed People and Today finally Run away, https://www.youtube.com/watch?v=nOv5FctjcfU, retrieved 2017-03-21
- ↑ MUSTAQUE TREND (2017-03-20), Social Trade in News, https://tricks.nayag.com/social-trade-news-money-refund-form-today-july-august/, retrieved 2017-03-21
- ↑ BT NEWS (2016-12-25), Webwork mega seminar 2016, https://www.youtube.com/watch?v=-vPcj7lP_AI, retrieved 2017-03-21
- ↑ webwork delhi (2016-12-08), webwork 9911803375, https://www.youtube.com/watch?v=VIDHsnqBDqE, retrieved 2017-03-21
- ↑ sandeep jangid (2017-01-12), Webpagelike plan daily payment new company, https://www.youtube.com/watch?v=JcK-3124kas, retrieved 2017-03-21
External links
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