The founder of Ringing Bells, Mohit Goel has been arrested by the Noida Police for allegedly defrauding dry fruit traders to the tune of 200 crore rupees. Ringing Bells is the same company that claimed offer the world’s cheapest smartphone ‘Freedom 251.’ However, after taking online pre-booking payments, they never delivered the phone.
As stated by the police, Mohit Goel, along with five other people, were running a dry fruit business under a company named Dubai Dry Fruits and Spices Hub. They had set up the company’s office in Noida Sector 62. However, police action was initiated against the company after nearly 40 complaints of fraud were filed against it by traders from states like Uttar Pradesh, Delhi, Punjab, Haryana, Rajasthan, West Bengal, Andhra Pradesh.
According to a report by The Times of India, Noida police said that at first, the company would obtain dry fruits from traders across the country at rates higher than normal market price and make timely payment to win their trust. Later, they would place orders in bulk and make around 40 per cent of payment in advance through net banking and tell their targets that the remaining 60% would be paid in cheques. However, the cheques would bounce at the bank. Thus, the fraudsters would get dry fruits from traders but not pay them completely. Later, the company would sell the acquired dry fruits in the open market and earn money.
On Sunday (10 January 2021), the Noida Police arrested Goel and his accomplice Omprakash Jaangid for the alleged fraud. Among the immediate recoveries, the police found, two cars, including an Audi, 60 kg dry fruits and some documents. Other members of the company include Sumit Yadav, Rajiv Kumar and Praveen Singh Nirwan. Noida police are still trying to arrest them.