EOW arrests mastermind in Rs 5 cr land pooling policy fraud

New Delhi: The Economic Offences Wing of Delhi Police has arrested the alleged mastermind behind a fraudulent land pooling policy scheme.

The prime suspect associated with Kamp Developers Pvt Ltd is accused of deceiving approximately 40 victims, misappropriating funds exceeding Rs 5 crore and engaging in similar fraudulent activities across six

other cases.

The police received the information about the fraud through a complaint registered at the Economic Offences Wing

Police Station.

The arrested accused was identified as Pradeep Sehrawat (38), son of Mool Chand Sehrawat resident of Krishna Garden, Sec-19, Dwarka, Delhi.

According to the police, the complainants detailed a scam related to the Delhi Development Authority’s (DDA) Land Pooling Policy, where they were induced by Kamp Developers to invest in the projects “The Crystal Residency” and “Eden Heights” in L-Zone, Dwarka.

Investigations revealed that the builder failed to initiate development work, leaving investors without their promised flats or refunds.

Subsequently, 30 more complaints were received, leading to a consolidated investigation.

The Land Pooling Policy, initiated by the government in 2013 and notified in 2018, was exploited by Sehrawat and his associates since 2018, despite having no license or approval from DDA.

The accused company, Kamp Developers Pvt Ltd, had not submitted any land under the Land Pooling Policy, and the projects were not registered with the Real Estate Regulatory Authority (RERA).

The Economic Offences Wing uncovered that the funds collected from home-buyers were siphoned off through misappropriation. The arrest follows a case registered on February 11, 2021, under sections 406/409/420/120B of the Indian Penal Code.

The arrest was executed by a dedicated team of the Economic Offences Wing of the Delhi Police on Friday.

The accused, with a background in B.E. (Electronics) from Ireland, worked with Intel before venturing into stock market trading.