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UP: Three More Held In Rs 3,500-crore Bike Bot Scam Case

UP: Three More Held In Rs 3,500-crore Bike Bot Scam Case

Three more people, including a retired Army man, wanted in the Rs 3,500-crore 'Bike Bot' scam case have been arrested by the Uttar Pradesh Police, officials said on Wednesday. They have been identified as Karanpal Singh, who retired from the Army in 2009, former Bike Bot director Sachin Bhati and his brother Pawan Bhati, the officials said.

Noida (UP): Three more people, including a retired Army man, wanted in the Rs 3,500-crore ‘Bike Bot’ scam case have been arrested by the Uttar Pradesh Police, officials said on Wednesday. They have been identified as Karanpal Singh, who retired from the Army in 2009, former Bike Bot director Sachin Bhati and his brother Pawan Bhati, the officials said.

Sachin Bhati and Pawan Bhati were held by the Noida unit of the Special Task Force (STF) around 10 pm on Tuesday near Dadri in Gautam Buddh Nagar, while Singh was held 15 minutes later in Ghaziabad by the Economic Offences Wing (EOW) of Meerut Police, they said. “Sachin Bhati and Pawan Bhati are accused in the Bike Bot scam. Sachin had a reward of Rs 50,000 on his arrest. The Noida unit of STF had got a tip off about the duo visiting their village in Dadri and were arrested,” Additional Superintendent of Police, STF, Raj Kumar Mishra said.

Singh, a resident of Ganga Sagar Defence Colony in Meerut, had joined Bike Bot in 2017 after coming in contact with Sanjay Bhati, according to the officials. “He also worked as a director in the company which has duped lakhs of people on the pretext of investment scheme,” they said.

The Noida-registered Garvit Innovative Promoters Limited (GIPL) company had in 2018 come out with the multi-level marketing scheme “Bike Bot” and lured investors with a promise to double returns in a year, the police said. They sought Rs 62,100 in investment for a motorcycle taxi and assured monthly returns besides doubling the investment amount in just one year but failed to deliver on the promise.

The firm has duped around 2.25 lakh investors to the tune of Rs 3,000 crore to Rs 4,000 crore across UP, Haryana and Madhya Pradesh, according to a police estimate. Around a dozen people, including Bike Bot boss Sanjay Bhati, have been arrested so far, the police said.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor


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