Everyone is well aware of what scams are. A dishonest act or scheme to cheat someone out of something, generally money. Whenever we hear the word scam, we instantly remember Harshad Mehta’s infamous story that became famous with the Scam 1992 web series. Along with that story, some other names that come to our minds are Vijay Mallya and Nirav Modi. However, the current scam that you are going to read is expected to be more than Nirav Modi’s scam.
This unbelievable scam took place in Uttar Pradesh-based firm Bike Bot. The case has been going on for a long time. Unfortunately, the investigation has not provided any satisfying results so far. For those reasons, the case will now be handled by the Central Bureau of Investigation (CBI).
The CBI has already registered the FIR against this Bike Bot, Chief Managing Director Sanjay Bhati. Along with 14 others for being involved in a scam that has robbed tens of thousands of investors across the nation. Whereas the amount that was deceived in this scam is beyond everyone’s expectations. The amount is expected to be more than Rs 15,000 crores.
Which is more than Nirav Modi’s scam against PNB. Sanjay Bhati, the chief managing director of Bike Bot, seems to be the main conspirator in this scam. Based on reports, his family members also have contributed to this scam. The CBI is taking the matter very seriously and has started an investigation. Soon every criminal mind involved in this scam will be put forward, officials stated.
This whole idea of scam started in the year 2010, when Mr. Sanjay Bhati and his family members had incorporated a company known as GIPL. The GIPL, Garvit Innovative Promoters Limited company initial registered office that opened in Gautam Budh Nagar.
It launched its master plan of bike taxi service in the name of Bike Bot in August 2017. Where Investors would invest their money in one, two, or as many bikes as they want. For one motorcycle they had invested Rs 60,000. Then the motorcycle would be rented out and a monthly premium would be paid to investors.
Based on reports, investors could get nearly Rs 9000 per bike along with some other bonuses. The scheme has continued pretty well for some time till early 2019. In November 2019, the company announced similar plans with electric vehicles. As petrol vehicles were facing issues with registration and operation, they informed investors that they were moving to E-bikes. This time, they have promised double the returns than the Petrol bikes.
As the matter reached the public in many states, thousands of investors came forward to invest. The Bike Bot Chief Managing Director Sanjay Bhati saw unbelievable funds pouring in from all over the country. Unfortunately, this time not only the money the schemes also disappeared into thin air.
Within a short time, the news went to public, and thousands of complaints have been registered at Dadri Police station in Gautam Budh Nagar. Surprisingly, the district authorities and police authorities were well aware of this. Despite thousands of complaints, they didn’t move the case forward. After years of inaction and poor progress of the case, now the case got into the hands of CBI. CBI officials have already announced key details about the case. Soon CBI will reveal all the details and officials’ involvement in the case.
