The Economic Offences Wing of the Delhi Police has arrested three men for allegedly cheating 200 investors to the tune of over Rs.10 crore on the pretext of providing them flats with facilities in Haryana’s Sonepat.
According to the police, the three men – identified as Ajay Kumar Singhal, Pankaj Kapoor and Manoj Kumar Goyal – had floated a company by the name of M/s Jindal Realcon Pvt. Ltd. and lured the victims by assuring them of developing a township in the name of “Jindal Green”.
“With no previous experience of construction business, they started functioning from a rented premises in Pitampura in December 2005. In the months that followed, they started collecting money by promising to sell flats in Jindal Green, a project which had no licence or approval from the authorities concerned. Having collected the payments from 200 odd people, the three men closed down their offices and were not traceable at any of the addresses they had provided,” said Deputy Commissioner of Police (EOW) Sanjay Tyagi.
Among the facilities that the accused had promised to provide along with the flats were a club and a swimming pool and the date of handover was three years after the receipt of the payment. After their efforts to get a refund failed, the victims approached the police and a case was registered at the EOW in 2011.
During investigations, the Anti Land and Building Racket Section in EOW found that the accused had bought 13 acres of land in a village in Sonepat.
The arrests were made on July 10 following a tip-off, said Mr. Tyagi, adding that the trio faces another similar case registered at the complaint of M/s GTM Builders and Promoters Pvt. Ltd. which alleged that Jindal Realcon obtained Rs. 4 crore from them with the understanding to use the said money for refunding to the investors but misappropriated the funds instead.