In the October Revolution of $1917$, the Bolshevik party took control in Russia, leading to the subsequent transformation of the party into the Communist Party of the Soviet Union.

Identify which of the following statements are NOT correct about the Bolsheviks. 

I. Most industry and banks were nationalised in November $1917$ by the Bolsheviks. 

II. The Bolsheviks were totally opposed to private property. 

III. It was led by Vladimir Lenin, the Bolsheviks seized power in Germany, marking the beginning of the Soviet era.

IV. They were a faction of the Russian Social Secret Labour Party.