Man arrested for duping investors of over Rs 20 cr
A 41-year-old owner of a marketing company was arrested on Tuesday by the economic offences wing (EOW) of Delhi police for allegedly duping over 11,000 people of Rs 20 crore by promising them land in Rajasthan.delhi Updated: May 15, 2013 23:36 IST
A 41-year-old owner of a marketing company was arrested on Tuesday by the economic offences wing (EOW) of Delhi police for allegedly duping over 11,000 people of Rs 20 crore by promising them land in Rajasthan.
SD Mishra, additional DCP (EOW), said Manish Goel was apprehended following investigations into allegations that Cosy Marketing Pvt Ltd cheated people by offering plots in Pushkar.
Last year, the company organised many seminars in Delhi, Haryana, Rajasthan and UP about a real estate project. The scheme launched mentioned that a member of the scheme could get a plot of 100 sq. yard in Pushkar for Rs 41,000.
“A member had to deposit Rs 11,000 in advance at the time of obtaining membership of the scheme and the remaining amount was to be deposited against the membership of the plot in 15 installments of Rs 2,000 each per month,” said Mishra.
The company had collected money from the public and distributed commission to the existing member for adding a new member in the scheme.
The company had acquired some agricultural land near Pushkar and the photographs of the same were shown to the investors, promising an upcoming township there.
While some members were allotted plots, a majority didn’t get anything and were duped. The company had very little agricultural land and none that could have been used to create a township.
Two bank accounts — one in Kotak Mahindra Bank and other in ICICI Bank — at Dwarka have been identified and frozen.