EOW arrests proclaimed offender in multi-crore real estate fraud case

The Economic Offences Wing (EOW) of the Delhi Police arrested a proclaimed offender in Faridabad, Haryana, on Saturday. The individual had allegedly been evading arrest for several years in connection with a multi-crore real estate fraud case, officials said.

The accused, identified as Shiv Nandan Singh Yadav, was wanted in nine cheating cases registered in 2019 on the complaints of multiple investors who alleged they had been duped into investing in a housing project that never took shape. He was apprehended on Friday after remaining on the run for nearly seven years, police said.

According to investigators, the cases were registered following directions issued by the chief metropolitan magistrate of the Shahdara district at Karkardooma Courts.

During the probe, the EOW found that all nine complaints involved a common pattern of alleged fraud and the same set of accused operating through M/s GRPL Globe Reality Pvt. Ltd.

Police said the company had launched a residential project, “Krishan Kunj Township”, at Tilori Khadar village in Greater Faridabad in 2013. Through advertisements and promotional campaigns, the company allegedly persuaded investors to purchase residential plots in the proposed township.

The project was advertised as a residential colony comprising 496 plots spread across approximately 10.26 acres of land. However, the investigation revealed that the company and its directors allegedly misrepresented facts about the project and did not have adequate legal title to the land required for its development.

After collecting substantial amounts from investors, the accused allegedly failed to deliver the promised plots and abandoned the project, causing significant financial losses to buyers, police said.

Yadav had been absconding since 2019 and repeatedly evaded legal proceedings, officials said. In 2023, a court declared him a proclaimed offender in all nine cases after he remained untraceable despite repeated efforts to locate him.

Police said further investigation is underway to trace other accused persons and recover the proceeds of the alleged fraud.