Two people have been captured on the charge of tricking individuals of roughly Rs 42,000 crore in various states on the guise of good returns through a Ponzi conspire ‘Bicycle Boat’, Delhi Police said on Friday.
The Economic Offense Wing captured CMD Sanjay Bhati and Director Rajesh Bhardwaj of M/S Garvit Innovative Promoters Ltd, who incited their casualties to contribute Rs 62,000 for a bike for a guaranteed return of Rs 9,500 every month, including the chief sum and rental salary on the bicycle, for one year.
They tricked various individuals who put their well-deserved cash in this plan. In January 2019, the organization additionally dispatched the e-bicycle to conspire, wherein a venture of Rs 1.24 lakh for a bike would get an arrival of Rs 17,000 every month for one year.
The charged at first paid the guaranteed sum to the speculators to win their trust, yet later defaulted on installments and stole away.
Numerous cases stand enlisted in Uttar Pradesh and different states based on grumblings by their casualties. Various people had recorded police grievances against Bhati, whose organization had an enrolled office at Plot No. 1, Chiti, Dadri, Gautam Buddh Nagar area, Uttar Pradesh.
“Throughout the examination, we found that roughly 8,000 complainants from Delhi were cheated out of around Rs 250 crore. The Reserve Bank of India had educated us that the said firm was not enrolled with the zenith bank as an NBFC and along these lines not approved to gather cash from people in general,” said OP Mishra, Joint Commissioner of Police (EOW).
The EOW said that the number of properties worth many crores of rupees associated with the case was recognized and a confirmation of the equivalent was on. It further said that the Directorate of Enforcement, Lucknow Zonal office, was researching this case.
