The Economic Offences Wing of Delhi Police has arrested absconding accused Sunder Singh Bhati, a resident of Ghazipur Dairy Farm in Delhi, from the Defence Colony. The accused was involved in the ‘Hello Taxi’ case, a multi-victim ponzi scheme that duped hundreds of innocent people.
The EOW received complaints from more than 350 investors with the invested amount being more than Rs 10 crore. The directors of the accused company actively induced the complainants on the pretext of high returns by investing their funds into the Hello Taxi scheme run by the alleged company.
The company accepted bookings from the investors without taking any approval from the concerned authorities such as RBI or SEBI. Thereafter, the alleged persons fled after closing their offices. Initially the company started its operation from Ghaziabad before shifting to Patparganj and Rohini. Some other cases are also registered against the alleged company in Rajasthan and Uttrar Pradesh.
“During the course of the investigation, a total amount of Rs 3,27,48,495 was freezed in the bank accounts of the alleged company. Further, 92 new Hyundai Accent cars worth Rs 5.35 crore, which were purchased using the cheated amount, were also seized," said O.P. Mishra, Joint CP, EOW.
Sunder Singh Bhati was the networking in-charge of the alleged company, M/s SMP Impex Pvt Ltd. He is among the main conspirators to run this fraud ponzy scheme. The accused has been absconding for long and changed his locations in Uttar Pradesh and Delhi to evade arrest. He was also declared as a proclaimed offender with a reward of Rs 50,000 on his head.