Hudhud times: Bike Bot scam businessman to be released on bail, Hudhudtimes reports.

Hudhud times: New Delhi | The Supreme Court Thursday directed that a businessman, who is in custody in connection with the alleged Rs 3,500 crore Bike Bot scam, be released on bail and asked him to deposit Rs 10 crore as a “pre-condition” for the relief.

The top court noted that the Allahabad High Court had in June this year directed the release of businessman Dinesh Pandey on bail after recording a clear finding that he was not named in the FIR and that he wasn’t a director, office bearer or manager of the private firm which had launched the Bike Bot scheme which allegedly defrauded lakhs.
The Uttar Pradesh police had earlier said that a Noida-registered company had in 2018 hatched a multi-level marketing scheme ‘Bike Bot’ and lured investors with the promise of doubled returns in a year.