A 40-year-old man was arrested from West Delhi by officers of the Economic Offences Wing (EOW) of the Delhi Police last week for allegedly duping 31 investors of over Rs 10 crore, the police said Tuesday.
Identifying the accused as Ghaziabad resident Deepak Gusain, a builder, the police said the accused’s company had advertised bookings for shops and flats at a plot in Rewari, Haryana in 2012, following which investors booked them and made regular payments. Construction for the same had continued until April 2014, after which it stopped, they said.
The police added that he misrepresented facts to the public and solicited investment despite knowing that the land was allotted only for dwelling units of workers. Assuring investors of possession within 27 months, the accused allegedly fled and became untraceable, investigators revealed.
The police subsequently registered a case. After analysing the account of the accused’s company, it was found that the money of home buyers had been diverted into separate accounts, officers said, noting that no units or flats had been given to the complainants.
Following a tip-off on August 9 that the accused would visit Tilak Nagar in West Delhi, Gusain was apprehended near the Tilak Nagar Metro station around 5 pm, investigators said.
M I Haider, deputy commissioner of police (EOW), said, “The accused was not joining the investigation and a look-out circular was opened. A non-bailable warrant was also obtained. He was then declared a ‘proclaimed offender’ by the court of the Chief Metropolitan Magistrate at Patiala House Courts.”
The police noted that three other cases were pending against his company and its directors at Kasola station of the EOW in Haryana’s Rewari and at the Parliament Street station in Delhi. Officers said efforts were on to arrest his co-accused. The accused has been booked under IPC sections 420 (cheating) 409 (criminal breach of trust by public servant/banker/merchant/agent), 406 (punishment for criminal breach of trust) and 120B (criminal conspiracy), the police said.