CHENNAI: A special court in Chennai dismissed the bail plea of Sakthi Anandan, the managing director of My V3, an online Multi-Level Marketing Business (MLM) company in a case related to duping people with high returns for watching YouTube advertisements.
The special court prosecuting the accused under the Tamil Nadu Protection of Interest of Depositors (TNPID) Act turned down the bail plea, after hearing the petition, saying there is a chance of the accused tampering with the evidence if bail is granted.
The Coimbatore cybercrime police booked Sakthi Anandan after receiving complaints that he had cheated several hundred people assuring them windfall if they watch ads by paying a fee to be their member.
It was reported that Sakthi Anandan’s MyV3 company promised a person would earn money between Rs 5 to Rs 1,800 per day by watching YouTube ads. It was also said that he also collected a membership fee from the investors. Later the case was transferred to the Economic Offences Wing, Chennai.
Meanwhile, Sakthi Anandan surrendered before the TNPID Act court after the court’s order.