The CBI has registered a case in connection with the massive scam of Rs 15,000 crore done by the Uttar Pradesh-based company Bike Boat. The CBI has registered a case against the company’s Chief Managing Director Sanjay Bhati and 14 others in this case. These people are accused of duping lakhs of people across the country. In the name of this company, people were offered to invest in bike taxis. Under this, an amount of Rs 15,000 crore was cheated and then swindled. This scam is believed to be bigger than the fraud done by diamond traders Nirav Modi and Mehul Choksi.
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UP STF ने ‘बाइक बोट’ केस में ललित भाटी को पकड़ा.ललित को मेरठ से किया गया गिरफ़्तार.#LalitBhati #Meerut #Arrest #BikeBoat #UP #STF @HarF3008 pic.twitter.com/NPTFOlYd6s— News18 India (@News18India) October 20, 2020
Sanjay Bhati formed the company under the name of Proud Innovative Promoters Limited. After this, the scheme named Bike Boat was started. Under this, Sanjay Bhati and his associates offered investors attractive returns after investing in 1,3,5 or 7 bikes. It was said that this is a bike taxi scheme and people will get big returns by investing money in it. However, nothing like this happened and after duping thousands of crores, Sanjay Bhati and his associates were stunned. It is being said that Sanjay Bhati is not in the country at the moment.
Returns were offered every month in lieu of investment
Under this fraud scheme, people were offered that they would get returns every month in return for the investment they would make to buy bikes. Apart from this, it was also said to give some different incentives on adding other people. Apart from this, the company also talked about starting its franchise in many cities of the country. However, this scheme did not get off the ground anywhere and the fraud continued from the people. The scheme was launched by the company in 2017 and the scam continued till early 2019. During this, lakhs of people from across the country had invested about Rs 15,000 crore in the company.
Police also raised questions in CBI FIR
The ED had started an investigation in this case before the CBI. The agency had also attached assets worth Rs 216 crore of the promoters of the company. CBI has written in its FIR that this is a case of cheating 2 lakh people. Under this, the company had issued an advertisement and appealed to the people to invest in the scheme. Apart from this, the CBI has also questioned the laxity of the police in its agency. According to the report, the SSP and the SP Crime Branch had pressurized people to withdraw their complaints.
