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Ride-hailing firm Rapido has denied having any involvement in an investigation being carried out by the Enforcement Directorate in the Rs 331-crore money deposit trail in a bike taxi driver account, the company said on Saturday. The driver's bank account received deposits worth Rs 331.36 crore between August 19, 2024, and April 16, 2025, according to ED officials. This was a classic case of a "mule" account being used to pump dirty money. A mule account is used to funnel illicit funds generated from financial crimes, and the actual owner is not its user. Such accounts are created using fake or hired KYC, where someone lends their account in lieu of a commission. The ED officials stumbled upon the Rapido bike driver while investigating the 1xbet online betting-linked money-laundering case. Rapido said that it is providing the required information to the Enforcement Directorate. "The individual mentioned is one of the two crore registered captains associated with us for bike taxi ..
Even before he joined Lyft's board in 2021, David Risher had taken hundreds of trips as a passenger so he felt like he knew a lot about the ride-hailing service. But he never expected to be thrust into the driver's seat at a time when Lyft was running like a jalopy. I really was gobsmacked, Risher said during an interview with The Associated Press as he recalled being recently asked to replace Lyft co-founder Logan Green as CEO. Risher quickly shook off his initial shock and is now making an effort to reverse the San Francisco company's mounting losses and sagging stock price. Just days after taking over as CEO, Risher came up with a restructuring plan that includes laying off nearly 1,100 employees whose job losses could help him attain stock price incentives potentially worth nearly USD 1 billion. Like any mass layoff, the payroll purge will uproot the lives of those suddenly out of a job while sowing uncertainty among Lyft's remaining 3,000 employees. But Risher believes the deep