Man nabbed for 1.4cr realty fraud in Mohali
Instead of purchasing land in favour of society, the accused had purchased land in their name through general power of attorney (GPA) and sold the same land to others and siphoned off the money
Nov 22, 2014
Source : The Times of India

 

NEW DELHI: The economic offences wing of Delhi Police arrested a man named Virender Singh who duped people on the pretext of providing them residential plots or flats in Mohali.

Deputy commissioner of police (EOW) Mangesh Kashyap said that Singh and his associates had taken Rs 1.40 crore from Ashish Sharma after luring him with their usual modus operandi.

"Singh claimed to be the president of IA & AD employee cooperative society. He took the money and handed over a share certificate and receipt to the victim who was given an impression that he has got a stake in the alleged society. However, later when he checked there was no property registered under the name of this society," Kashyap said.

Sharma registered a complaint with the police against Ritesh Bhatia, director of M/s Rohan Build Tech Pvt Ltd, Singh who was the president and Harjinder Singh, the apparent secretary of the society. At the time of taking money from Ashish, the society had no license or permission from the land owning agency, police said.

During investigation, it was found that the victim had transferred the money to an account owned by the company from where Rs 95 lakh was transferred to Virender Singh and Harjinder.

Police found that, instead of purchasing land in favour of society, the accused had purchased land in their name through general power of attorney (GPA) and sold the same land to others and siphoned off the money.

The police on Wednesday laid a trap and arrested Singh from Panchkula, they are looking for the other accused involved in the racket.

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