Two real estate firm officials held for fraud

Two real estate firm officials held for fraud
10/09/2018 , by , in News/Views

The Economic Offences Wing (EOW) has arrested two officials of a real estate group on allegations of taking Rs 30 lakh from an investor and not repaying returns for the same. Additional Commissioner of Police (EOW) Suvasish Choudhary identified the accused as Vishal Tandon, director of Sampati Developers, and Harish Arora, the manager and brother-in-law of another accused director Swaroop Satija, who was arrested in May.

“Swaroop was the main accused in the case ,” Choudhary said, adding, “The two other accused were arrested on Friday.” The EOW had registered a case on April 17 under IPC sections 409 and 420. As per the FIR, the complainant got to know about the company through an advertisement on a news channel in 2016. “I contacted the accused, who made me go through several investment schemes and returns. We also executed a MoU and (I) invested Rs 30 lakh,” the FIR read.

The complainant initially invested Rs 10 lakh in January 2016, and made Rs 20 lakh in multiple cheque transactions in April and May 2016.

The accused person then issued 29 cheques of Rs 35,000 for the next 10 months in 2016, police said. But in 2017, two cheques issued by the accused were dishonoured. Despite repeated requests to pay his returns, the accused did not do so, said the complainant.

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