Noida, January 12: Mohit Goel who first came into lime light by announcing the world's cheapest smartphone at Rs 251, Freedom 251 under his start-up called Ringing Bells, has been arrested in a new scam by the Noida police. Goel and five others have been accused of duping 40 dry fruit traders from all over idea to the tune of 200 crore. 'Freedom 251' Founder Mohit Goel Who Offered World's Cheapest Smartphone Under Brand 'Ringing Bells', Arrested by Delhi Police.

Goel and his associates were reportedly running a dry fruit business by the name of Dubai Dry Fruits and Spice Hub in Noida. According to police, the accused used purchase dry fruits from the traders at a price higher than the prevailing market rate and make timely payments, initially. After wining the victim's trust, they used to place bulk order by making some percentage of payment in advance and issuing cheques for the remaining amount. However, all of such cheques bounced at the bank. Fake Job Scam: Naukri.com Alerts People to be Careful of Fraud Job Offers, Here's How to Identify a Fake Job Offer.

"They offered rates above the market value to wholesalers to purchase the commodities. Initially, in order to build trust, they conducted some business properly but then would pay only 30 to 40% of the amount as advance, while not paying anything later and giving a post-dated cheque, which would eventually bounce. The goods were then sold at a profit in the open market, thus earning them a decent profit margin,” said joint commissioner of police, law and order, Luv Kumar, reported Hindustan Times.

During the investigation, the Noida Police arrested Mohit Goel and his associate Omprakash Jaangid for the alleged fraud. Two cars, including an Audi, 60 kg dry fruits and some documents were among immediate s recoveries made by the police. Investigations are underway to locate and nab the other members of the gang.

(The above story first appeared on LatestLY on Jan 12, 2021 06:38 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).