Bikebot scam – Huge scam in India:
Sanjay Bhati – He is a son of 10 fathers with Single mother.
Noida: Hundreds of motorcycles, 10 bags full of bank cheques and burnt computers were found in the head office of motorcycle taxi service Bike Bot, which is accused of duping and cheating 4 lakh investors of nearly Rs 13500 crore, sources said. The Garvit Innovative Promoters Limited (GIPL) company in Greater Noida had come out with the multi-level marketing scheme “Bike Bot” and lured investors with a promise of double the returns in one year, Gautam Buddh Nagar SSP Vaibhav Krishna said.
It sought Rs 62,100 in investment for a motorcycle taxi and assured monthly returns besides double the investment amount in longer run, Krishna told reporters. On Saturday, a search was conducted at Bike Bot’s headquarters in Greater Noida by a special investigation team (SIT) of the Noida Police which has been constituted to probe the multi-crore ponzi scheme fraud, the senior official said.
The Gautam Buddh Nagar police suspects involvement of high-profile persons in the alleged ‘Bike Bot’ ponzi scheme run by arrested BSP leader Sanjay Bhati and will seek his custody again for further questioning, a senior police officer said on Tuesday.
More than 2 lakh people invested Rs 62,100 each in the ponzi scheme. While police had earlier estimated that the scam to be of around Rs 1,400 crore, but following further inquiries, now believe the magnitude of the scam to be much higher.
The Greater Noida-based firm had come out with the multi-level marketing scheme ‘Bike Bot’ and lured investors with a promise of double returns in one year.
According to the police, Bhati, who had been in five-day police custody which ended on Monday, was not cooperative and did not reveal much.
“But we have come to know that 200 luxury cars including Audi, BMW, Jaguar, etc were purchased on the company’s name and were gifted. We are trying to trace the people and recover them. As many as 102 bikes and 8 luxury cars have been recovered so far,” he said.
“We suspect the involvement of several high-profile people, who were behind Bhati. In order to unearth the entire scam, we will be asking for his police custody again. The next hearing is on June 20,” said a senior police officer.
Bhati and other top officials of Garvit Innovative Promoters Ltd (GIPL), known for its motorcycle taxis operating in western Uttar Pradesh districts such as Gautam Buddh Nagar, Ghaziabad, Hapur and Bulandshahr and also in Rajasthan, Madhya Pradesh, and Haryana, were wanted for cheating and had cases registered against them in Greater Noida and several other states.
The Greater Noida-based firm had come out with the multi-level marketing scheme “Bike Bot” and lured investors with a promise of double returns in one year.
It is in this connection, police will be seeking custody of Sanjay Bhati, who was arrested on June 7 and sent to judicial custody, again for further questioning to get to the bottom of the case, the police officer said.
According to police, the company had used internet, social media, pamphlets, and motivators who would spread word about the scheme and encourage gullible people to invest in it. “The investors were assured of some extra bonus if they could connect more investors with the scheme,” a police officer said.
Police have said that on Saturday, a team had visited the company’s head office located in Dadri and found a 100 motorcycles, burnt computers and five bags filled with cheques.
Sources in the Economic Offences Wing revealed that the company had got nearly 9,000 bikes, out of which around 3,000 were registered and the remaining unregistered.
Most of the victims are either retired people or working in the army. I know that many agents who lure innocent people to join in bikebot scheme are also working in India army. Please take necessary action on them too. They didn’t run the business directly but they put their spouse names as nominees and ran the business. So if Police department can check their spouse’s and brother’s bank transactions in the last 1.5 years we can at least get our money back.
#Bikebot cheque memo from ICICI Bank:
@Prime Minister of India: Sir, please take necessary action on him and recover the people’s hard earned money. Also please pass big warning to the people who are in MLM business and agents.
@Everyone: Please share this message to everyone so that everyone will be aware of these kind of scams.
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Tags: Bikebot, Bikebot scam, MLM scam.