Real estate firm director arrested

New Delhi: Economic Offence Wing (EOW) of Delhi on Friday claimed that they have arrested the director of a real estate firm from his Noida office for allegedly duping people to the tune of several crores of rupees by inducing them to invest in their pre-launch project.

According to police on secret information, they arrested the accused identified as Yogesh Sharma, Director of Big Bull Infrastructure Limited from Noida. "The accused along with other directors Chetan and Satyanarayana Sharma had induced the public to invest in their project "Big Bull Ashiana" situated at Chandwaji, NH-8, Jaipur, Rajasthan and usurped the money obtained from the investors," police said.

DCP (EOW) Varsha Sharma stated that presently there are 13 victims involving the amount of several crores. Accused is on police custody remand. "None of the accused directors had joined investigation till date and are absconding. The alleged company had neither developed the said project nor obtained any approval from concerned authorities," said DCP Varsha. She further claimed that investigations are on to unearth the details of the bank accounts and money siphoned off and to trace the whereabouts of the other accused directors.