One more arrested in Bike Bot schemeUpdated: Oct 20, 2020, 22:16 IST
The Noida special task force (STF) and the economic offences wing (EOW) on Tuesday arrested a man wanted in connection with the ₹3,500 crore Bike Bot scheme case.
The suspect 32-year-old Lalit Bhati, a resident of Mawana in Meerut, was wanted in 56 cases of financial fraud and police had announced ₹ 50,000 reward on his arrest. With his arrest, the total number of people arrested in the case is now 17. Lalit Bhati is unrelated to alleged mastermind of the scheme 40-year-old Sanjay Bhati
Raj Kumar Mishra, additional SP Noida STF, said, “A join team of Noida STF and EOW received information about movement of suspect near a private university in Dadri. The police team conducted a search and arrested the suspect from the spot.”
During interrogation, the suspect revealed that he had joined Garvit Innovative Promoters Limited (GIPL), which ran the Bike Bot scheme, as director in 2017. “He was actively involved in networking and duping scores of customers,” Mishra said. Lalit Bhati has been absconding since cases were filed against the company and the racket was busted in June 2019.
One of the first complaints about the fraud was filed by Kitab Kaur, a resident of Hisar in Haryana in March 2019. She said that a neighbour had introduced Bike Bot mastermind Sanjay Bhati to her. “I had paid ₹ 34 lakh in multiple transactions to Bhati and did not get returns. On repeated request, they had sent a bank cheque of ₹ 50 lakh which bounced,” Kaur said in the complaint. She suspected foul play and filed a complaint in Dadri police station.
Alleged mastermind Sanjay Bhati, his two brothers 35-year-old Sachin Bhati and 33-year-old Pawan Bhati were arrested in the case. Sanjay Bhati had allegedly set up the company in 2010, and floated Bike Bot scheme in 2017. The suspects would seek ₹ 62,000 investment per bike from people. The investors were promised ₹9,765 monthly return from their investment. This accumulated to ₹1.17 lakh per annum income. The offer was so lucrative that soon over 2.25 lakh people made payments for multiple bikes and were cheated to the tune of ₹ 3,500 crore.