Retired Lt Col held for duping Army men of Rs 88 lakh

new delhi: A retired Lt. Colonel of the Indian Army and a recipient of the Kirti Chakra Vijeta, identified by police as Rakesh Rana, has been arrested for cheating other army personnel (both serving and former) to the tune of approximately Rs 88 lakh.

The complainant, Havaldar Chandan Kumar along with other victims (army personnel) alleged that they have been cheated by SWO-India Ltd at Dwarka to the tune of Rs 88 lakhs.

They alleged that the accused showed them a rosy picture about the "Veer Aawas Bokaro Project" and assured that they were running an NGO in the name of SWO-INDIA for the benefit of Army personnel.

"It was also told that no profit motive was there in the projects. Alleged persons directed the investors to deposit money in SWO India Ltd (a company). Alleged NGO through its official, director ensured that he would provide residential plots to the investors at Bokaro, Jharkhand," Joint CP (EOW) OP

Mishra.

During the investigation, it surfaced that Rana induced and gave false representation to the army personnel that the whole project was of 20-acre land and the land had been purchased and necessary approvals had been

taken.

The alleged company provided an allocation letter cum agreement on receipt of the total amount, but the company neither provided the plots nor, did return their

money.

The company also has no land and requisite sanction, approval from concerned authority. During the investigation, it emerged that accused Rakesh Rana, Chairman-cum-Managing Director, a Retd. Lt. Colonel, Kirti Chakra Vijeta, was the main brain behind the

scam.