Enforcement Directorate raids multiple premises in Noida Bike Bot ponzi scam case

The Garvit Innovative Promoters Limited (GIPL) company in Greater Noida had come out with a multi-level marketing scheme "Bike Bot" and lured investors with a promise of double returns in a year. They sought Rs 62,100 in investment for a motorcycle taxi and assured monthly returns besides double the investment amount in just one year but failed to deliver on the promise, as per the police.

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