Managing Director of controversial advertisement portal MyV3Ads, Sakthi Anandan appeared before the Economic Offences Wing, Coimbatore today for investigation related to the complaints filed against him and his organization.

Mr.Anandan's firm promises daily payments to registered members for just watching advertisements on their mobile app. The payments start from Rs. 5 to Rs.1,800. Users who have subscribed to various ad-watching plans available with the firm can withdraw the payments, according to the firm. 

Sources shared that the Economic Offences Wing officials are investigating whether such payments are being properly made to investors daily, and enquiring more about the firm.

Mr.Anandan during his last interaction with the press and media, claimed that his company has 50 lakh members, and not even a single person has been denied their returns. Even people who gathered at L&T Bypass last week in support of Mr.Anandan over fears that the company will be closed said that this company gives them their livelihood, and that they were promptly receiving the payments every month without fail.

However, people with concern for those who have invested money in this suspicious firm are repeatedly stating that this could very well be a ponzi scam.

"If a return of Rs. 5 is paid to 50 lakh members per day, the firm will have to pay Rs. 2.5 crore. On a monthly basis it will need Rs. 75 crore. Where is the source for these returns? This is definitely as ponzi scheme masquerading as a MLM firm," popular tech analyst Nadha said in his recent video. 

The investigation is going on.