The incident which prompted the arrest was the result of an unfulfilled order, according to the police. A handset dealer ordered devices amounting to 3 million Indian rupees ($45,000), but reportedly received only a sm all amount of the order. Some of the received phones, which amounted to 1.4 million rupees, were also defective, and when the dealer contacted Ringing Bells for a refund, Goel and another executive reportedly threatened to kill him and his family.
Launched in June last year, the Freedom 251, which is named for its price in rupees, sold for less than its manufacturing costs, and some people at the time alleged the firm may in fact be a Ponzi scheme. Goel has been detained for interrogation, and an investigation on the matter is underway.
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