Ponzi firm’s post: ‘Give, don’t take’

Ponzi firm’s post: ‘Give, don’t take’

Window-dressing could have boosted the social media presence of Ambidant Marketing, which cheated several investors and has now got mining baron Janardhana Reddy into fresh trouble

Syed Fareed Ahmed, marketing director of Ambidant.

Police say former Karnataka minister G Janardhana Reddy is on the run after they tracked down how he made Rs 20 crore by offering to help a Ponzi firm.

Ambidant Marketing, the firm in question, had lured many investors by offering high returns, and then faltered on its payments.

Ironically, the company had many vouching online for its authenticity. It used YouTube, Facebook and Instagram to popularise itself. 

‘Ambidant customer page’ on YouTube, was started on December 1,2017 and shows 80,000 views and 997 subscribers. Of 15 videos posted, 14 are customer testimonials. 

However, a video by Syed Fareed Ahmed, managing director with Ambidant Marketing, posted about 10 months ago, has the comments section disabled.

In the video, Syed tells investors in Urdu not to heed rumours. “I assure you that you will not be duped,” he says.

Customer testimonial videos for Ambidant have views ranging from 585 to 11,000. 

‘Ambidant marketing’, another YouTube channel, was started on June 1 last year. With 2,952 subscribers and 2.94 lakh views, it has 54 videos, including one about the opening of Ambidant Marketing in Mysuru, and another telling potential investors how to register and pay. 

Comments with people demanding their money back are also online here. The channel has a video posted two months ago, asking viewers what they know about the company. 

Another YouTube channel for Ambidant has 1,209 subscribers and was set up on January 12 last year. It has six videos, garnering between 3,000 and 13,000 views.

A video posted on July 3 shows people demanding proper contact information and refund of money invested. An earlier video, posted four months ago, shows Syed Fareed Ahmed, who ran the company, assuring investors that he is in Bengaluru.

“I have not run away; I am ready to repay every single investor and I request you to co-operate with me,” he says.

Yet another YouTube account with 1,919 subscribers has a video posted on April 11, with Ahmed again assuring investors they will not be duped.

On Facebook, the ‘Ambidant Marketing Pvt Ltd’ page is followed by 4,500-plus people and liked by 4,000 people.

Managed by Syed Afaq, it describes the company as a “platform for successful investment.”

Created on December 31, 2016, the page has received negative reviews from Facebook users.

A video of a woman claiming that her money was returned in difficult times and urging investors to have patience is also online.

‘Ambidant Fans Club’, created on October 21 last year, is followed by 2,370 people and liked by 1,995.

With multiple posts about fraud in investments, the page features 18 videos.

Ahmed claims in one, “Contrary to claims made by investors, I have made payment to as many people as possible.”

The organisation also has a presence on Instagram with the tagline ‘Be a giver, not a receiver’.
The page has 1,839 followers and 11 posts, and just 20 likes.