Delhi Police arrested a 32-year-old science graduate accused of cheating innocent people with sum of Rs 800 crores on the pretext of investing the money in recurring deposit/fixed deposit policies in ‘BPN Real Estate Company’. Five cases of fraud were registered in Paali, District Kobra,
Chhatisgarh,Thatipur and Gwalior.
The accused has been identified as Mukesh Baghel, a resident of Gwalior, Madhya Pradesh. According to police, one complaint was also filed at Hauz Khas police station in South Delhi. A senior police official said: “On receiving information regarding his arrest, police team from Paali, District Kobra, Chhatisgarh visited Hauz Khas and 4 days transit remand of accused was obtained from the court for further investigation in the case.”
During investigation it was learnt that there were eight directors in BPN Real Estate Company including Baghel who generated a company with 25-30 branches in different cities of India in 2007.
Through their agents, they used to lure people to invest money in Recurring Deposits and Fixed Deposit Policies of their company and they will return their money with handsome profit. A large number of people accepted their offer and invested their money in the company.
In 2009, they changed the name of company as Sunshine Infra Build Corporation Ltd and transferred all the cash and data in the new company and disappeared in 2013.