Tuesday, December 7, 2021
Home Politics Uttar Pradesh: One More Held In Rs 3,500 Crore 'Bike Bot' Scam

Uttar Pradesh: One More Held In Rs 3,500 Crore ‘Bike Bot’ Scam

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Noida: A man wanted in connection with the Rs 3,500-crore ‘Bike Bot’ scam was arrested by the Uttar Pradesh Special Task Force (STF) from Greater Noida, said officials on Tuesday.

Lalit Bhati has around 56 cases linked to the scam lodged against him at a police station in Gautam Buddh Nagar’s Greater Noida.

Bhati was held by the Noida unit of the STF along with officials from the Economic Offences Wing (EOW) of the Meerut police on Monday, a senior officer said.

“Bhati was wanted in 56 cases linked to the Bike Bot fraud and carried a reward of Rs 50,000 on his head. He was held near the Shiv Nadar University in Greater Noida around 10.30 pm on Monday,” said Additional Superintendent of Police, STF, Raj Kumar Mishra.

Earlier, on October 7, the STF had arrested three men, including a retired Army personnel and a brother of the scam mastermind.

Garvit Innovative Promoters Limited (GIPL), a Noida-registered company, had in 2018 come out with a multi-level marketing scheme “Bike Bot” and lured investors with a promise of double returns in a year, the police said.

The firm has duped around 2.25 lakh investors to the tune of Rs 3,500 crore across UP, Haryana, and Madhya Pradesh, according to the police.

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