Following his stunt of bringing 100s of gullible investors to Coimbatore Commissioner office yesterday to hide the scheme’s original premise, he’s been remanded for 15 days in judicial custody.
Coimbatore: Shakti Anandan, the founder of MYV3ADS, has been arrested in Coimbatore after a protest by investors outside the company's offices turned tense.
The owner of MyV3 Ads, along with more than 50 of the company’s executives, was arrested today in Coimbatore after refusing to leave the Police Commissioner’s office. The arrests followed a complaint alleging that MyV3 Ads committed fraud amounting to approximately INR 20,000 crores by promising financial returns to people for viewing advertisements. The Coimbatore City Crime Branch has registered a case against the company’s director, Shakti Anand, and is conducting an ongoing investigation.
The arrest came on the heels of the company's controversial move to lock down the servers of the MYV3ADS application, causing widespread alarm among its investors.
During the demonstration this morning, law enforcement intervened, leading to Anandan's arrest. A judge has since ordered that he be held in judicial custody for 15 days. The situation highlights growing tensions between tech companies and investors over transparency and operational decisions.
The owner of MyV3 Ads, along with more than 50 of the company’s executives, was arrested today in Coimbatore after refusing to leave the Police Commissioner’s office. The arrests followed a complaint alleging that MyV3 Ads committed fraud amounting to approximately INR 20,000 crores by promising financial returns to people for viewing advertisements. The Coimbatore City Crime Branch has registered a case against the company’s director, Shakti Anand, and is conducting an ongoing investigation.
The arrest came on the heels of the company's controversial move to lock down the servers of the MYV3ADS application, causing widespread alarm among its investors.
During the demonstration this morning, law enforcement intervened, leading to Anandan's arrest. A judge has since ordered that he be held in judicial custody for 15 days. The situation highlights growing tensions between tech companies and investors over transparency and operational decisions.