nThe Economic Offences Wing (EOW) of Delhi Police has arrested six directors of a company for allegedly cheating people to the tune of Rs 42,000 crores by inducing them in a ponzi scheme ‘Bike Boat’.
The accused have been identified as Vijay Pal, Rajesh Singh Yadav, Haresh Kumar, Vinod Kumar, Vishal Kumar and Sanjay Goel and they are running in judicial custody in Gautam Budh Nagar in Uttar Pradesh (UP). Police said that they have been placed under arrest by the EOW after permission from the Court.
According to Dr O P Mishra, the Joint Commissioner of Police, EOW, several victims had filed complaint against Sanjay Bhati and other of Garvit Innovative Promoters Limited regarding cheating of approximately Rs 42,000 Crore.
“It is alleged that the accused persons have induced the victims to invest Rs. 62,000 for a bike and to receive Rs. 9500 monthly including principle and rental income on bike for one year. Due to lucrative offer of alleged, number of victims invested and in January 2019, alleged company launched Electric-Bike scheme and offered to deposit Rs. 1.24 lacs for a Bike and to receive Rs. 17000/per month till one year. Initially alleged had repaid the assured amount but after winning confidence of investors, they absconded,” said the Joint CP.
“During investigation, the account details of the alleged company were obtained and a reply from the RBI was also received, where it was revealed that alleged company was not registered with RBI as a NBFC and was not authorized to collect money from public,” said the Joint CP.
“Around 8000 complainants against the alleged company are Delhi based and their cheated amount is approx 250 Crore. From the investigation conducted, number of properties worth Rs several hundred crores have been found and investigation on the same is in progress. It further revealed that Directorate of Enforcement Lucknow Zonal office is also investigating this issue and number of cases are registered in Noida and other States,” he added.