Delhi Police EOW arrest two from Noida in bike boat ponzi scheme case
New Delhi, May 18
The Delhi EOW arrest two from Noida in bike boat ponzi scheme case where victims were
cheated to the tune of Rs. 42, 000 crores.
The accused were identified as Badri Narain Tiwari Rajajipuram in Lucknow and Vijay Kumar Sharma from Sector-100 in Noida, U.P. were arrested from Gautam Budh Nagar, U.P.
The EOW stated that a number of victims had filed complaints against Sanjay Bhati & ors. of M/s Garvit Innovative Promoters Limited having its registered office at Gautam Budh Nagar, Uttar Pradesh regarding cheating of Rs. 42 thousand core approx.
The officials said 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 a bike for one year. Due to the lucrative offer of alleged, a number of victims invested their hard earned money in this scheme.
In January 2019, the company launched Electric-Bike scheme and offered to deposit Rs. 01.24 lacs for a Bike and to receive Rs. 17000/per month till one year. Initially alleged had repaid the assured amount but after winning the confidence of investors, they absconded.
During the course of the investigation account details of the alleged company M/s Garvit Innovative Promoters Limited were obtained from M/s IDBI Bank Yamuna Vihar Delhi, ICICI Bank Pallavpuram, Meerut/Khurja Branches and also from Noble Co-operative Bank, Noida. The reply from the RBI was also received, wherefrom it was revealed that alleged company M/s GIPL was not registered with RBI as an NBFC and was not authorized to collect money from the public.
During the course of the investigation, it was revealed that approx 8000 complainants are Delhi based and their cheated amount is approx Rs. 250 crore, EOW stated.
The EOW further said that a number of properties worth Rs. several hundred crores have been identified and investigation is in progress.
Due to the lucrative offer of accused, a number of victims have invested their hard earned money in this scheme. In January 2019, the alleged company launched E-Bike (electric bike) scheme. In this scheme, they again announced a lucrative offer to invest Rs. 01.24 lakhs for a bike and get Rs. 17000/per month till one year. Initially alleged had repaid the assured amount to the investors but after winning the confidence, they defaulted and absconded.
23 arrests have been made in this case so far.
