Recently, the founder of Ringing Bells, the Indian company responsible for the “cheapest smartphone in the world,” Mohit Goel was arrested on suspicion of fraud after Ayam Enterprises accused him of failing to reimburse a non-cash millionaire purchase.
The Founder Of World’s ‘Cheapest’ Smartphone Arrested
Mohit Goel, the founder of Ringing Bells, the Indian company responsible for the “cheapest smartphone in the world,” was arrested on suspicion of fraud after Ayam Enterprises accused him of failing to reimburse a non-cash millionaire purchase. He was detained late Thursday afternoon in Uttar Pradesh, an Indian state with more than 200 million people, according to Reuters.
According to the indictment, Ayam Enterprises had paid 3 million rupees ($138,000) for a batch of the Freedom 251 smartphone but received only part of the order with several defective devices. According to the company, they had been persuaded by Goel in November 2015 to become smartphone distributors in India.
After requesting the repayment, the company said it had received only a total of 1.4 million rupees (cash) and new handsets. By ordering Ringing Bells to fully refund the purchase, Ayam Enterprises owners said they had suffered death threats from Mohit Goel and another company executive.
Freedom 251 drew attention to its being announced in 2016 as the “cheapest smartphone in the world”, costing just 251 rupees (equivalent to $4 in today’s price), which attracted high demand but also the distrust of critics and skeptics over its business model – including India’s own price regulators, one of the world’s largest low-cost smartphone markets.
Moreover, the founder of Ringing Bells, Mohit Goel will be brought to trial this week. However, the fraudulent company Ringing Bells has yet to comment on the case.
