Noida Police Commissioner Alok Singh (File Photo)
The Gautam Buddh Nagar police on Friday slapped Gangsters and Anti-Social Activities (Prevention) Act against the accused in the Rs 3,500 crore Bike Bot scam.
According to police, Bike Bot scam kingpin Sanjay Bhati and more than a dozen have been arrested so far. Police said that Sanjay is the prime accused. He is the son of Ratan Singh, a resident of Dankaur.
The accused persons worked for a Noida-registered private firm Garvit Innovative Promoters. According to police, in 2018 the company launched the multi-level marketing scheme Bike Bot. It lured people with a promise of double returns in a year.
The police said that the company sought Rs 62,100 in investment for a motorcycle taxi and promised monthly returns. It also assured to give people the double of the investment in just one year.
The company didn't keep its promise. Police said that the firm duped investors to the tune of Rs 3,500 crore in multiple states.
The police have filed a case against the mastermind and 14 of his accomplices at Dadri police station.
