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Saturday, March 4, 2017

World's Cheapest $4 Android Makers' CEO Arrested For Fraud Allegations

Remember the cheapest Android "Freedom 251" smartphone that was offered for $4?

Well, reports from Reuters says the founder of the tech firm (Ringing Bells) that offered the world's cheapest $4 Android smartphone has been arrested on allegations of fraud.

He was arrested after a dealer said he had paid 3 million Indian rupees for an order of Freedom 251 but had received only a fraction of the order. 

He further said some of the phones received were defective. This is not the first complaint that has been filed against Goel, police said.

The story gets funnier. according to Goel’s LinkedIn page, he has an MBA degree in marketing from Amity University and a Bachelor’s degree in business administration from Western Sydney University.

However, after he was arrested, Goel told the police he had only studied till Class VIII, following which he took lessons to improve his “English speaking skills.

In his defense, a senior official was quoted as saying: 

“A fraud is when a company dupes its investors by taking their money and failing to give them products, but in the case of Freedom 251, all the booking amount has been returned by the company.”
Well, well...
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