EOW nabs company director in Rs 323 cr Ponzi scheme
New Delhi: The Economic Offences Wing of Delhi Police has arrested the owner and director of a real estate firm for duping scores of people of around Rs 323 crore under the pretext of selling them land or properties. Police have identified the accused as Vijay Gupta (67).
Joint Commissioner of Police (EOW) OP Mishra said that complainant Manish Jain along with 21 others lodged a complaint with EOW alleging that realty company Green Bay Infrastructure duped them of Rs 5 crore approximately. "The alleged company had launched a project in 2011 for sale of plots and flats to be known as "Green Bay Golf Village" in Sector 22-D near the Yamuna Expressway, Uttar Pradesh," the official said.
Many victims booked their plots, flats since 2011 on the assurance that the possession of plots will be handed over within 18 months and flats will be handed over in 48 months from the date of execution of the agreement. The amount was collected from the gullible investors since 2012 and the complainants had deposited around Rs 5.07 crore but the company had abandoned the housing project and failed to provide flats and plots as promised nor had it returned the money.
Joint CP Mishra said that during the investigation, relevant documents were taken from victims and other statutory authorities. Yamuna Expressway Industrial Developmental Authority (YEIDA) revealed that in the year 2011, they allotted 100 acres of land in Gautam Buddh Nagar to Green Bay Infrastructure. "The audit report of YEIDA has also been analysed which shows that an amount to the tune of Rs 323 crore was collected from the investors and out of which Rs 170 crore had been diverted to one Agrasen Fincap Services, a company owned by the alleged person and Rs 3 crore to Three C Universal Developers Pvt Ltd," the senior officer said.