New Delhi: A father-son Duo was arrested by the economy of violation Wing Delhi Police (EOW) for allegedly fooling hundreds of investors, including senior central government officials, from billions of rupiahs under the pretext of investment in housing projects under the Pooling Delhi Development Authority policy.
The defendant, Ashok Sharma (69) and Nitya Sharma (37), were residents of Paschim Vihar in West Delhi.
Chhaya Sharma Commissioner (EOW) said the initial investigation revealed that more than 600 investors had been cheated until now.
The probe began after a complaint was received from PK Gautam, Deputy Director (Security) from Rajya Sabha, and several other people on the defendant and Skylark Multi-Country Housing Group Society.
“Alleged that Duo’s father has misinterpreted that the project is part of this Pooling DDA land policy.
They also claim that there is a P-2 zone in Narea where the flat housing will be developed, “Sharma said.
The defendant allegedly managed to get Rs 19 Crore invested from 600 community members.
No land bought and the amount never returned to the complainant.
The investigation shows that DDA has not issued approval or permit for housing projects under the policy.
“It’s also illegal to advertise about plots or flats in any project without registration under Real Estate Regulatory Authority Act, 2016.
The bank account studied and found that the defendant has been drawn in large quantities in cash and suck around RS 9 Crore,” said Joint commissioner.
A team consisting of ACP Virender Singh, the Naveen Dahiya and others carried out raids and arrested the defendant.
They were interrogated about their colleagues.
Investigations regarding the transfer of funds to other assets are also being carried out.
The son of a former intelligence official, Ashok formed a cooperative Skylark for victims of fraud.
He came in contact with several government officials and began to captivate senior officials of the Ministry and Department to invest in affordable housing projects under this Pooling Dda Land Policy.
Nitya is the CEO of the community and conspires with his father to deceive investors, the police claim.
Elaborating on their target, the police said this duo was mostly targeted by senior government officials.
Most complainants either work or retirement IRS officers and income tax commissioners.
Con began last year.
The defendant told investors in 2008 that they would form a society and land would be purchased within one year under DDA policy in Narella.
Interestingly, no Pooling land policy was at that time, police said.