Two held for duping over 2L people of crores

Greater Noida: A day after Gautam Buddh Nagar police arrested the franchise head of the infamous Bike Bot Taxi service, the director/owner of the company has also surrendered before the Surajpur court on Friday.

Cops said that the company has duped over two lakh people from various states of India on pretext of double returns in one year.

According to police, the accused were identified as franchise head Vijay Pal Kasana, native of Meerut District and director of the company Sanjay Bhati.

Vaibhav Krishna, Senior Superintendent of police (SSP) told reporters that a Greater Noida Based company named Garvit Innovative Promoters Limited, had come up with the multi-level marketing scheme Bike Bot.

"Upon interrogating the arrested accuser, it came to light that the scheme was launched three years ago and the company sought Rs 62,100 as investment on a motorcycle taxi and assured monthly returns, besides doubling the investment amount in one year. They also assured some extra bonus if they connect others to the scheme. However, the complaints started coming since January when the company officials stopped all communications with the investors and also stopped paying the installments of the interest," said Krishna.

The officer further that the company has duped over two lakh investors from pan India.

"It also came to light that the company has duped nearly two lakh investors by the Ponzi scheme which amounts Rs 1300 crores. There are 33 cases registered against Bike Bot under the Indian Penal Code sections 420 (fraud), 406 (criminal breach of trust), 467 (forgery), 506 (criminal intimidation) and related offences at Dadri police station of Greater Noida. Both the accused are in judicial custody for 14 days while we have also applied for the Custodial remand of the two accused in the court," added Krishna.