Noida/Lucknow, Feb 25: The Special Task Force (STF) of the Uttar Pradesh police on Thursday said it has arrested a television channel owner in Lucknow in connection with the Rs 3,500-crore “Bike Bot” scam. Badri Narayan Tiwari was held from the Manoj Pandey roundabout in the Gomti Nagar area of the state capital around 12 noon on Thursday following a tip-off, the STF said.
Tiwari, the owner of Live Today, was held by the Lucknow unit of the STF and the Economic Offences Wing (Meerut), the agency said in a statement. “He has been arrested for his role in the Bike Bot scam. He is among those named in the FIR lodged at Dadri in Gautam Buddh Nagar district and had been absconding since 2019,” it stated.
Garvit Innovative Promoters Limited (GIPL), a company registered in Noida, had in 2018 come out with the multi-level “Bike Bot” marketing scheme and lured investors with a promise of doubling their investments in a year, the police said. The company sought Rs 62,100 in investment for a motorcycle taxi and promised monthly returns, besides doubling the investment amount in just a year, but failed to deliver on it.
The firm has allegedly duped around 2.25 lakh investors across Uttar Pradesh, Haryana and Madhya Pradesh to the tune of Rs 3,500 crore, according to a police estimate. Tiwari was handed over to the EOW (Meerut) team, which is conducting further proceedings in the case, the STF said.
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