Lucknow: The Enforcement Directorate (ED) raided the premises of an associate of an accused in the ‘Bike Bot’ scam case, claiming that he was a member of the Samajwadi Party (SP) and was allegedly promising relief to the other accused in the case.
ED issued a statement in which it identified the arrested Dinesh Kumar Singh alias Dinesh Singh Gujjar as state secretary of SP. ED officials said that the SP member was arrested based on the searches and incriminating evidence against him seized from the premises.
Sources in the ED said that PMLA action has been initiated against Dinesh after there were complaints that he was extorting money from persons against whom PMLA investigation is underway for ‘Bike Bot’ scam in Lucknow zonal office.
“Gujjar used to contact his victims to lure them with false promises of settling their ongoing PMLA investigation and consequent release of their movable and immovable properties from ED,” ED sources added.
ED said that ‘Bike Bot’ fraud worth Rs 1,665 crore was allegedly committed by Garvit Innovative Promoters Ltd (GIPL), Sanjay Bhati and others. PMLA investigation revealed that in 2017, the accused Bhati and others floated a lucrative investment scheme in the name of ‘BIKEBOT’.
As per the scheme, a customer could invest in 1,3,5 or 7 bike(s) which would be maintained and operated by the company and the investors would be paid monthly rental, EMI etc. A similar scheme was launched for e-bikes also. GIPL also allotted its franchises in various cities.
The company had falsely promised annual profits up to 40% to its investors. PMLA investigation also unearthed that funds collected were rotated in a fashion akin to a ponzi scheme and were ultimately used in creation of assets in the name of the company and other persons.
