In the midst of a scandal surrounding MyV3 Ads, Shakti Anand, the CEO and founder, underwent police investigation today as a case was registered against the company for deceiving millions under the guise of earning money through ad-watching.
The Coimbatore Crime Branch Police initiated the investigation on January 19 following complaints of widespread fraud.
Last Monday, the Neelampur L&D bypass area in Coimbatore witnessed a gathering of around 5,000 people, expressing support for MyV3 Ads and contesting the filed case. The uproar centered around the claim that the online app had provided them with a legitimate source of income.
The controversial app lured individuals with promises of earning Rs.4 for watching an ad after a mere Rs.300 deposit. As the investment increased, so did the promised income, with the opportunity to buy Ayurvedic capsules for a substantial amount, ensuring a daily income of Rs.400 through ad-watching. MyV3 Ads allegedly attracted millions by asserting additional income for referring others as members.
In light of the ongoing investigation, Shakti Anand, accompanied by his lawyer, presented himself at the Coimbatore Crime Branch Police Station. The case, registered under five sections, accuses Shakti Anand of orchestrating fraud by falsely claiming income through ad-viewing.
Simultaneously, 16 individuals lodged a complaint with the District Collector of Coimbatore against Sakthi Anand, citing previous fraudulent activities through V3 Online TV. The investigation continues, unveiling the intricate layers of the MyV3 Ads controversy.