117 white-collar crimes this year so far as EOW focuses on multi-victim frauds

new delhi: With the Delhi Police's Economic Offences Wing (EOW) noticing an increasing trend in white-collar crimes from 2018 and 2019 in the Capital, an interestingly common modus operandi has emerged where fraudsters entice residents with fake land pooling schemes, claim it to be an official offer from the Delhi Development Authority and then cheat them of their hard-earned money before disappearing into thin air.

According to the latest data available with the EOW, 19 such cases have already been registered this year till the end of August. In fact, according to the figures, the EOW had registered 272 cases of white-collar crimes in 2018, 392 the following year and 117 such cases this year so far, with the police saying they are increasingly focusing on multi-victim frauds, which of course includes the mother-of-all cheating schemes — the Ponzi scam.

"In multi-victim frauds, people from the vulnerable section of society are being duped on the false promise of high returns. The evil design of the promoter is realised once they have Invested a substantial amount and the promoter has disappeared. Apart from investigating, we are also focusing on awareness among people," Joint Commissioner of Police (EOW) OP Mishra said. He added that people mostly fall prey to such cases as they fail to observe basic precautions while investing their money.

Recently, the owner of a movie production company in the Capital was able to cheat 71 investors of Rs 6 crore before being caught. The data further shows that in the year 2018 about 144 people were arrested whereas last year, 249 people and in 2020 (till August) as many as 72 people were arrested in white-collar crimes.

The EOW data showed that nine people had been arrested this year for cheating thousands through fake land pooling schemes in different cases. These fraudsters induce the public through misrepresentation of facts pertaining to this policy and offering affordable housing at prime locations to people in dire need. They focus on massive marketing campaigns through bulk SMSs, web portals, social media platforms, one official said.

In one such case, reported in February, EOW claimed that they arrested three people including the president and secretary of a real estate firm for cheating homebuyers. Investigators said that a total amount of approximately Rs 400 crore was collected from 3,997 investors in the name of providing housing.

Meanwhile, in light of COVID-19, the EOW has made extensive use of technology and maximum interaction with complainants was through WebEx only. "IOs were examining the alleged persons, complainants on WebEx. They are seeking documents through social media platforms," the Joint CP said, adding that they are also digitising important records and case files.