South Delhi police have arrested a 43-year-old director-cum-employer of many fake real estate companies for allegedly cheating around 500 investors in Delhi-NCR to the tune of around Rs 10 crores, police said on Tuesday.
Inspired by Sahara Group modus operandi of cheating investors, the arrested builder and his associates had tricked investors into investing their hard earned money on the pretext of giving plots in new colonies to be developed by their real estate group in Faridabad, said police.
The arrested builder has been identified as Manoj Bhardwaj, resident of Khanpur in south Delhi. With his arrest, the south Delhi Police claimed to have solved ten cheating cases registered at the Neb Sarai police station. Senior police officers said that many more such cases are registered against Bhardwaj in Economic Offences Wings (EOWs) in Delhi, Faridabad, and Gurgaon.
Deputy commissioner of police (south district) Ishwar Singh, said that many complaints were filed at Neb Sarai police station wherein it was mentioned that they had invested huge money for purchasing the plots at new colonies to be developed by Arun Dev Builders Group in Faridabad, Haryana.
"The complainants mentioned that they planned to purchase the plots from the real estate group after seeing advertisements published at various platforms. The builder had taken huge amounts from them and had given 'Ikrarnama Note' (Agreement to Sell) to all of them, showing a clear images of the plots to be given to them," said Singh.
The complainants had invested their money many years ago but till date no plot was given to them. When they tried to cancel the agreement and wanted their money back, the builder ran away with their money. The office bearers also winded up their offices and their mobile phones were found to be switched off, the DCP said.
Interrogation of Bhardwaj, Singh said, has revealed that he initially started a company in the name of Arun Dev Builders Pvt. ltd. later on, he started as many as 8 sister companies in the names of his relatives and close ones.
"Bhardwaj has disclosed that these companies had a turnover in hundreds of crores of rupees. At his instance incriminating articles including cheques belonging to various aggrieved persons and issued to the above mentioned sister companies were recovered from his house," the DCP said adding they are looking for other co-accused.