Noida man on the run for four years over ₹12 crore fraud, held

The suspect, Prakash Jha, a resident of Mangolpuri, Delhi, defrauded hundreds of flat owners by forging fake Board of Resolution (BOR) documents in his name

Noida: A 42-year-old man, absconding for the last four years over an alleged ₹12 crore fraud, was arrested on Wednesday after a four-month-long extensive investigation, police said.

In August 2021, a Noida-based builder filed a complaint of fraud and cheating against Jha after an embezzlement of ₹12 crore was found during the annual audit. (Representational image)

The suspect, Prakash Jha, a resident of Mangolpuri, Delhi, defrauded hundreds of flat owners by forging fake Board of Resolution (BOR) documents in his name.

“If a homeowner had not repaid a loan or was facing high-interest rate issues, he claimed to settle the matter and redirected the loan amount to his own bank account, saying he was waiving off interest,” said Sector 63 SHO Avdhesh Pratap Singh.

He also forged house registry documents with fake BORs, falsely authorising him to sell the properties.

He was nabbed from Sector 63 using electronic surveillance and informers, the SHO added.

In August 2021, a Noida-based builder filed a complaint of fraud and cheating against Jha after an embezzlement of ₹12 crore was found during the annual audit. “Jha, who held an executive position at the builder’s office, allegedly created fake BORs in his name for disputed flats. For example, if the homeowner had not repaid a loan or was facing high-interest rate issues, he claimed to settle the matter and redirected the loan amounts to his own bank account, saying he was waiving the interest,” said Sector 63 Station House Officer Avdhesh Pratap Singh.

He also forged house registry documents with fake BORs, falsely authorising him to sell the properties.

“With the help of his three accomplices—Navneet Kaur, Gaurav Sharma, and Vishal Katiyar (arrested)—he embezzled ₹12 crore and later left the builder’s office without any notice or No Objection Certificate (NOC),” Singh added.

An officer involved in the investigation, speaking on the condition of anonymity, said, “He had set up a four-stage call forwarding system to avoid being traced. His family members, when contacted, claimed he had left home around three years ago and refused to share further details.”

“In 2022, a year after the case was registered, Gautam Budh Nagar police announced a ₹25,000 reward for information leading to his arrest, which was later increased to ₹50,000.”

“With the help of electronic surveillance and informers, the suspect was finally arrested on Wednesday from Sector 63,” SHO Singh added.