Processing .....please wait.. 
The article has been forwarded.... 
U.S Charges Two Indians With Conning Investors With Social Media
"Srivastava and Kavuri used excessive secrecy in their effort to swindle investors through social media outreach and a website that attracted as many as 4,000 visitors per day," said Stephen Cohen, Associate Director of the SEC's Division of Enforcement.
According to the SEC's order instituting administrative proceedings, Srivastava and Kavuri used the Profits Paradise website and YouTube videos to detail three investment plans with terms of 120 business days.
The first plan purportedly yielded daily interest of 1.5 percent on investments of $10 to $749. The second plan purportedly yielded 1.75 percent on investments of $750 to $3,499. And the third plan purportedly yielded 2 percent on investments of $3,500 and above.
Postings on Profit Paradise's Facebook page promised investors they could "Enjoy Hassle Free Income" and advertised a "5 percent Referral Commission."
The scheme also utilised a Profits Paradise Twitter account to steer potential investors to the Profits Paradise website and Srivastava and Kavuri created a Google Plus page to promote the investment opportunity.
The SEC also expressed its appreciation for the assistance of the Securities and Exchange Board of India as well as the Autorità des MarchÃs Financiers in Quebec, the Ontario Securities Commission, and the Securities and Futures Commission in Hong Kong.
READ MORE: 8 Amazing Inventions For The Common Man in India and Future Gadgets: Mind-Boggling Wearable Tech Devices
Source: IANS
