Mastermind Behind Rs 3,500 Crore Ponzi Scheme Busted: Noida Police Arrests Sandeep Yadav

Noida police have arrested Sandeep Kumar Yadav, a key player in a major ponzi scheme orchestrated by Maple Innovative Promoters. Yadav duped thousands of investors in a scam similar to the Rs 3,500 crore 'Bike Bot' fraud. He was taken into custody after being on the run for five years.

In a significant breakthrough, Noida police on Sunday apprehended Sandeep Kumar Yadav, a pivotal figure in a sprawling ponzi scheme akin to the infamous 'Bike Bot' fraud. The arrest, executed in Alwar, Rajasthan, was a joint effort between Noida Crime Response Team and the SWAT unit, stated Deputy Commissioner of Police (Crime) Shakti Mohan Avasthy.

Yadav was instrumental in Maple Innovative Promoters (MIP), a company accused of swindling approximately 5,000 investors under the pretense of a bike taxi investment scheme. Echoing the scale of the Rs 3,500 crore 'Bike Bot' scam, this fraudulent operation left thousands defrauded, including residents of Uttar Pradesh.

Facing eight criminal cases and a Rs 25,000 bounty, Yadav evaded capture for five years. Yadav enticed investors with the promise of substantial returns, only to abscond with the funds. Noida police continue to pursue legal action as Yadav remains in judicial custody.

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