Gurgaon Man Arrested For Duping Real-Estate Investors

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Gurgaon Man Arrested For Duping Real-Estate Investors

New Delhi:

A 58-year-old civil engineer was arrested for allegedly duping folks on the pretext of investing in actual property, police stated on Wednesday.

Sanjay Chawla, a resident of Gurgaon, had cheated 53 folks round Rs 9 crore, police stated.

According to a criticism, Adel Landmarks Ltd had in March 2011 made a pre-launch of a mission named ”Cosmo Court”, which was to come back up at Sector 86 in Gurgaon, an officer stated.

The agency and its representatives misled the buyers that it has already acquired 17 acres of land and obtained the licenses to begin the mission, the officer stated.

They urged the complainants to begin making funds for bookings for the mission within the pre-launch stage, stating that it was very nominal at this stage and the charges could be double as soon as the mission is formally launched, police stated.

The firm began accepting reserving quantities from the buyers a lot earlier than the mandatory approvals had been obtained from the authority. The mission was deserted and the quantity was not returned, the officer stated.

Investigation revealed that Chawla was one of many administrators and the authorised signatories within the firm. He was arrested on Monday and on launched on bail later as per the route of a courtroom, Additional Commissioner of Police (EOW) Raj Kumar Singh stated.

Chawla used to persuade many of the clients to speculate their cash, police added.

Earlier, Sumit Bharana and Hem Singh Bharana, who had been promoters of this mission, had been arrested on this case, police stated.

(Except for the headline, this story has not been edited by NDTV employees and is printed from a syndicated feed.)

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