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Three more persons arrested in Bike Bot ponzi scheme case
The Noida police Economic Offences Wing (EOW) and Noida Special Task Force (STF) teams on Wednesday arrested two more suspects in connection with the ₹3,500 crore
The Noida police Economic Offences Wing (EOW) and Noida Special Task Force (STF) teams on Wednesday arrested two more suspects in connection with the ₹3,500 crore Bike Bot scheme case.
Till date, 14 people have been arrested in the case, which involved duping many investors in the name of opening a app-based motorcycle taxi company.
The suspects arrested on Wednesday were identified as brothers 35-year-old Dankaur resident Sachin Bhati and 33-year-old Dadri resident Pawan Bhati. Meerut STF also arrested third suspect 50-year-old Ganga Nagar resident Karanpal Singh from Hapur in connection with the case.
Raj Kumar Mishra, additional SP (Noida STF) said that that Pawan and Sachin were arrested from Nangla Nainsukh village in Dadri. “They were directors of Garvit Innovative Promoters Limited, which had floated the Bike-Bot scheme in 2017. Their older brother Sanjay Bhati was the mastermind of the scheme and is presently in jail,” he said.
Mishra said that police arrested the absconding brothers based on a tip.
Meanwhile, Karanpal Singh, who was also a director in the company, was arrested from an auto in Hapur. He told police officials that he had retired as hawaldar from Indian Army in 2009. In 2013-14, he went to Dehradun and worked with a private investment company. In 2017, he came in contact with Sanjay Bhati and started working for the Bike-Bot scheme.
Sanjay Bhati had allegedly set up the company in 2010. The modus operandi was lucrative, said police. The accused would seek ₹62,000 investment per motorcycle in return for ₹1.17 lakh per annum income. This, however, never took off and last year, people approached the police against the company. Police say almost 225,000 people were duped this way. Last year, while the oldest Bhati brother was arrested, the others were absconding and police had announced a ₹50,000 reward for their arrest.
The three suspects were produced in court and sent to judicial custody.
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