The Enforcement Directorate (ED) on Monday hooked up belongings price over Rs 103 crore in reference to its cash laundering probe into the Noida ”bikebot” ponzi scheme case, officers stated.
Twenty-six immovable properties price Rs 101.45 crore, and financial institution stability totalling Rs 2.28 crore in 22 accounts have been hooked up provisionally below the Prevention of Money Laundering Act (PMLA) by the Lucknow zonal workplace of the company, they stated.
The Greater Noida-headquartered Bike Bot taxi service is accused of duping about Rs 3,000-Rs 4,000 crore from 2.25 lakh traders in a number of states together with Uttar Pradesh, Madhya Pradesh, Rajasthan and Haryana.
“Further investigation against certain officials and beneficiaries is continuing and more attachments will be done in this case shortly,” ED Joint Director (Lucknow zone) Rajeshwar Singh stated.
The ED had booked the corporate that ran the alleged ponzi scheme — Garvit modern Promoters Ltd (GIPL) — and its promoter Sanjay Bhati and others below the PMLA in June final yr after going by a number of FIRs filed in opposition to them by the Noida police.
As per the ED, the corporate and its promoters had “floated highly lucrative investment plans in the guise of a bike taxi service in the name of ”bike bot” where a customer could invest in 1, 3, 5 or 7 bikes which would be maintained and operated by the company and the investor would be paid monthly rent, EMI and bonuses (in case of investment in multiple bikes) and further incentives on adding additional investors in a binary or multi-level marketing structure.”
“The company allotted franchises in various cities but the bike taxi hardly operated in these cities. The plans were floated in August, 2017 and the collection of money from investors or customers and repayments to them continued till early 2019.”
“In November 2018, the company floated similar plans for e-bikes stating that the petrol bikes were facing issues regarding registration and operation,” it stated.
The funds so collected have been used for compensation to the sooner traders just like that in a ponzi scheme, the ED alleged.
It alleged that the promoters indulged in acquisition of different corporations, buy of a resort in Kullu (Himachal Pradesh) for creation of varied immovable and movable belongings within the title of varied corporations and in addition transferred funds to numerous different corporations and people as loans and investments with out correct documentation.
The company had additionally recorded statements of Sanjay Bhati and others who had been arrested within the case.
It had performed raids on this case in February and surveyed a co-operative financial institution in Noida which “revealed several suspicious transactions and the role of the banking officials in aiding and abetting the accused in laundering of the public money.”
At least 19 immovable properties positioned in Gautam Buddh Nagar, Ghaziabad, Bulandshahar, Kanpur and Indore within the title of the corporate have been recognized by the company.
“Seven other properties in the name of third parties have also been ascertained and verified,” the ED stated.