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If It Sounds Too Good to Be True, It Probably Is: Founder of India’s $4 Smartphone Arrested On Allegations of Fraud.

Who remembers this song by Frank Vallie:

“Youre just too good to be true.”

Anytime I remember the song, the popular quote in the title comes to mind.

According to Reuters, the founder of the tech firm that offered the $4 smartphone, touted as the world’s cheapest 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.

Here’s where the story becomes really funny. 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 had this to say: “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.”

 

 

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    3 comments on “If It Sounds Too Good to Be True, It Probably Is: Founder of India’s $4 Smartphone Arrested On Allegations of Fraud.

    1. KingAbsolute says:

      So they started investigating as soon as they saw $4 I guess.

      But he’s still innocent till proven guilty.

    2. pWilliams says:

      or maybe there was a delay with the manufacturing

    3. ỌBÁDÁRÀ says:

      …WELL,I AM OF THE OPINION,THAT THE PROJECT SHOULD BE TAKEN OFF COMPLETELY. AT FOUR USD($4),HOW DO YOU MANUFACTURE A FUNCTIONING TOUCH SCREEN PHONE ON ANDROID OS.EVEN THE FEATURE PHONES,AREN’T THAT CHEAP…

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