Bike taxi firm owner accused of duping investors sent to 3-day police custody
New Delhi [India], Feb 4 (ANI): A Delhi court has sent to three-day police custody, the owner of a motorcycle taxi firm -- Bike Bot -- for allegedly duping investors.
ANI
Feb 04, 2020 18:29 IST
New Delhi [India], Feb 4 (ANI): A Delhi court has sent to three-day police custody, the owner of a motorcycle taxi firm -- Bike Bot -- for allegedly duping investors.
Chief Metropolitan Magistrate (CMM) Purshottam Pathak sent Bike Bot owner Sanjay Bhati to three-day police custody on Monday.
Police sought custody for seven days, which Bhati's counsels Amit P Nagar and Samvedna Verma opposed stating that there was no further recovery to be done so no further custodial interrogation was required.
Bhati, who is accused of cheating his investors of Rs 38 lakh on the pretext of giving good return, was arrested by the Crime Branch of Delhi Police on Monday and booked under various offences dealing with cheating and criminal conspiracy.
According to police, there are more than 30 cases registered against Bike Bot under the various charges dealing with fraud, forgery criminal intimidation and related offences for allegedly duping over two lakh investors of more than Rs 1,300 crore through a Ponzi scheme.
The police said that the company has sought money as an investment on a motorcycle taxi and assured monthly returns, besides doubling the investment amount in one year. (ANI)
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