Real estate firm director arrested from Mumbai in cheating case

New Delhi: Police on Sunday said they had arrested a woman director of a real estate company for allegedly duping more than 100 investors to the tune of over R20

Published on: Dec 6, 2020, 22:24:58 IST

By HT Correspondent

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New Delhi: Police on Sunday said they had arrested a woman director of a real estate company for allegedly duping more than 100 investors to the tune of over R20 crore in the name of providing them residential flats in Raj Nagar Extension in Uttar Pradesh’s Ghaziabad. The woman is the wife of a retired officer of Central Reserve Police Force (CRPF), who is also a director of the company. Police said the man is absconding and is an accused in many cheating cases.

Joint commissioner of police (economic offences wing) OP Mishra said several complaints were received by the economic offences wing (EOW) and other police stations in Delhi. The complainants had alleged that they had booked residential flats in the housing project proposed in Raj Nagar Extension by the company. The homebuyers invested money in the project but the firm never delivered the flats and stopped construction without giving any reason, said Mishra.

“Later, the investors learnt that the alleged persons had never taken permission for the construction of the housing project from Ghaziabad authority. Subsequently, the authority cancelled the lease of the project. The alleged persons diverted and misappropriated the funds. They shut their offices and went into hiding. Accordingly, many cases were registered and investigated by the EOW,” said Mishra.

The investigating team collected intelligence about the absconding suspects. Investigators learnt that the hideout of one of the suspects was in Mumbai. They carried out searches in Mumbai and finally arrested the woman director from Andheri West in Mumbai last week. She was brought to Delhi and her two days police custody was secured from a city court.

“Two other directors of the company were arrested earlier from Delhi-NCR while the woman’s husband is yet to be caught,” added the joint CP.

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