The Enforcement Directorate (ED) has arrested Dinesh Singh Gujjar, State secretary of Samajwadi Party (SP) in Uttar Pradesh, in connection with the “Bike Bot scam” case, and taken him into its custody till July 26.
The agency, which also conducted searches on Mr. Gujjar’s Noida premises, is conducting the money laundering probe on the basis of multiple First Information Reports (FIR) registered by the U.P. Police following complaints lodged by investors alleging that they had been cheated by Garvit Innovative Promoters Limited (GIPL), Sanjay Bhati, and other persons.
According to the ED, its investigation revealed that in 2017, Mr. Bhati and others had floated a lucrative investment scheme in the name of “Bike Bot”. The scheme provided that a customer could invest in motorcycles, which would be maintained and operated by the company as two-wheeler taxis. In return, the investors would be paid a monthly rental, Equated Monthly Instalments (EMI), and bonus in case of investment in multiple motorcycles.
