Chairman of Eider Motors Arrested Over Fraud

In a recent action by Central Crime Station, the chairman of Eider Motors has been arrested over fraud charges, ranging around INR 10 Crore in total. The arrested person, Maroju Shiva Kumar has been found cheating a number of investors, taking money from them on the name of dealership allocation and providing no motorcycle at the end. The chairman is even said to refuse to pay back the money wen asked by the investors.

Eider Motors of Hyderabad have no official license to manufacture and sell a product in the country, thereby cheating everyone with their false claims of Germany and Japan made products. They have not even delivered a single motorcycle to any of the dealer and even cheated the dealers by luring them with a fake commission of INR 6,000-12,000 on selling one Eider motorcycle to the public.

Source - Hyderabad: Man held over Rs 10 crore bike fraud