The Economic Offences Wing (EOW) of the Delhi Police has arrested a retired Lieutenant Colonel for allegedly cheating army personnel on inducement of providing residential plots across the Country.
The accused has been identified as Rakesh Rana, a resident of Dwarka’s Sector-18A. Police said that he is found previously involved in two criminal cases.
According to Dr O P Mishra, the Joint Commissioner of Police, EOW, one Havaldar Chandan Kumar, along with other army personnel, alleged that they have been cheated by SWO-India Ltd to the tune of around Rs 88 lakh.
“They alleged that accused person showed them rosy picture about the “Veer Aawas Bokaro Project” and assured that they were running an NGO in the name of SWO-India for the benefit of army personnel. It was also told that no profit motive was there in the projects,” said the Joint CP.
“The investors were directed to deposit money in SWO India Ltd, a company. The company, through its official, ensured that they would provide residential plots to the investors at Bokaro in Jharkhand. On his assurance, the victims invested money for residential plots,” said the Joint CP.
“During investigation, it was revealed that Rana induced the army personnel that the whole project was of 20-acre land and the land had been purchased and necessary approvals had been taken,” said the Joint CP.
“The company provided allocation letter cum agreement on receipt of total amount, but it neither provided the plots, nor returned their money. Even the company has no land and requisite approval from concerned authority,” he said.
“During investigation, it was revealed that Rana, a retired Lt Colonel, Kirti Chakra Vijeta, was the main brain behind it. He was arrested on Tuesday from one of his residences at Dwarka. He was also the authorised signatory of various accounts of the company,” said the Joint CP.
“The accused assured army personnel that they are running an NGO called SWO-India for the benefits of army personnel and was not earning any profit from the projects. However, the accused directed the investors to deposit money in SWO India Ltd, a company of identical name,” said the Joint CP.