New Delhi, Dec 11 : The Economic Offences Wing of Delhi Police has arrested three accused, Aniel Kumar Saha, Aunirban Saha and Ashok Kumar Sirohi, all residents of Noida in Uttar Pradesh, for duping more than 20 buyers to the tune of Rs 20 crores. The arrests were made from Noida and Faridabad.
According to police, a complainant alleged that being the directors of the company the accused persons induced her by painting a rosy picture of their group housing project and cheated her of Rs 5.44 crores. The accused persons persuaded the buyers to invest in the project on the pretext of making a huge profit. They also executed buy-back agreements but the cheques which were issued by the accused for assured returns, were dishonoured on presentation.
“The accused persons neither completed the project nor complied with the terms and conditions of the buy-back agreements. Thus, the accused persons cheated the buyers to the tune of Rs 20 crores,” said OP Mishra, Joint CP of the EOW.
The case was registered in the EOW last year U/s 406/420/120B of the IPC after an initial enquiry.
During the course of investigation, it emerged that the directors of the company persuaded the victims to part with their money on the pretext of high returns by investing in their group housing project named “AMEDEUS”, situated at Noida.
The alleged company accepted bookings from the investors for the said project and diverted these funds to develop their real estate project. By adopting this modus operandi, they siphoned off the funds of the complainants to other companies.
The company initially paid returns to the investors to gain their confidence and later on stopped the payments after collecting a huge amount. They also abandoned the project.
“Bank statements of the alleged company and as per the balance sheet of the company it has emerged that the company has overall collected around Rs 375 crores as advance from customers. Out of which, Rs 85 crores were used on the expenditure on construction of the project. Detailed siphoning of funds by accused company is being verified,” the officer added.
Disclaimer: This story is auto-generated from IANS service.