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Retired group captain arrested for fraud

New Delhi: The Economic and Offences Wings of Delhi Police arrested a 50-year-old man for duping investors of their money. Police identified the accused as Dipendra Kumar Singh (Retired Group Captain) who has been arrested on Tuesday. Police said that in the case about 15 victims complained that in 2012, they were allured to invest in a private company formed for the housing project in Gurgaon in two-acre land.

Police further revealed that but only 1.39-acre land was purchased. Amount of Rs 9.75 cr were collected but neither project commenced nor returned the money. "Rs 2.5 cr siphoned off in his other company. No account books, minute book, share applications produced. Accused is the main promoter and director in both the companies," added police officer.

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