Ex-CEO of Hello Taxi alleges multi-crore financial fraud by promoters

A month after the first information report (FIR) was filed by a complainant against Hello Taxi, its officials and promoters, now former CEO of the cab aggregator company has also come out alleging financial anomalies by the promoters of the firm.

Senior officials of 'Hello Taxi' including former CEO Saroj Mahapatra have alleged that the promoters of the company have siphoned off investors' money to the tune of Rs 1,000 crore and they are wrongly made to face the wrath of those who were cheated by the owners.

Hello Taxi operates a multi-level marketing (MLM) scheme in the country and offers high returns to the investors. The company owes a huge amount of money to both big and small investors.

"To make people aware of fraudulent practice used by dubious companies, we at the corporate level, need to collectively condemn them and initiate all necessary legal action. Law enforcement agencies also need to be watchful of such conduct," said former CEO Mahapatra.

Alleging large scale financial fraud, he further said: "Since March onwards, I was absolutely sure that the financial fraud by the promoters was close to Rs 1,000 crore and I collected all proofs. I along with other senior officials had been trapped."

"We were made to believe by them that we are only employees on monthly salary and have nothing to do with the amount collected by the company. We were never a signing authority for financial transactions. On the basis on relevant documents, it appears that the promoters of the company have done a financial fraud to the tune of Rs 1,000 crore," he added.

Repeated attempts were made to Hello Taxi's official number for comments, but in vain as the response was either switched off/non-existent.

Mahapatra has also written to the office of Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman, alleging that the accused may attempt to flee the country. He has also submitted all proofs of fraud to the Prime Minister Office, Union Home Ministry, and law enforcement agencies.

Mahapatra has demanded the arrest of promoters for safeguarding the interests of investors.