Four-day police remand for Noida-based Ponzi firm Webwork’s directors

The Uttar Pradesh police on Tuesday obtained a four-day remand of Anurag Garg and Sandesh Verma, the directors of Webwork Trade Links Pvt Ltd. The two have been accused of duping people through an online Ponzi scheme along the lines of Ablaze Info Solutions Private Limited whose director Anubhav Mittal too was recently arrested.

Police produced Garg and Verma before chief judicial magistrate Vineet Chaudhary’s court in Gautam Budh Nagar and obtained a four-day remand starting 10am on Wednesday. They want to question the two to gather more information related to the alleged online scam and their modus operandi.

Read more: Noida: Two directors of online trading firm Webwork arrested

On February 13, the Sector 20 police had registered a case against them based on a complaint lodged by a Ghaziabad-based insurance agent AK Jain. Subsequently, their office in Sector 20 was searched, but Garg and Verma had already left the city by then.

The police had arrested the duo from the office of senior superintendent of police (SSP) Dharmendra Singh in Surajpur on February 17. They had reached his office to plead innocence before the officer.

After hearing their version, Singh ordered them to be arrested. He had said that the duo’s visit to his office was a gimmick to distract the police from investigating cases against them.

“Two cases of cheating were already registered against the two directors. We had thoroughly investigated their frauds and involvement in duping gullible people,” Singh had had said on Friday.

Read more: For promotion, Webwork paid Rs1.15cr to film star, say Noida police

Around 2.5 lakh people are estimated to have associated with Webwork, which claims to be an online social trading company.