The Delhi police arrested a man for allegedly duping people of over '800 crore on the pretext of investing the money in recurring deposit and fixed deposit policies in a real estate company on Monday.
The Delhi police arrested a man for allegedly duping people of over '800 crore on the pretext of investing the money in recurring deposit and fixed deposit policies in a real estate company on Monday. The arrested accused was identified as Mukesh Baghel, a native of Gwalior district in Madhya Pradesh.
The police said a complainant reached the Hauz Khas police station with information about the presence in Hauz Khas of Baghel, who along with other associates, had allegedly cheated people of over Rs 800 crore on the pretext of investing in recurring deposit and fixed deposit policies in BPN Real Estate Company. The complainant, Naresh Kumar, who worked as an agent in the company, informed the police that a case of cheating was already registered against the accused in Kor-ba district of Chhattisgarh.
“In the year 2013, all the directors along with Mukesh Baghel absconded from their residence with the cash of the investors. All of the documents produced by the complainant against the accused were verified from the respective police stations and all information was found correct,” said a senior police official.
On hearing the news about Baghel’s arrest, around 15-20 other complainants in the same case also gathered at the Hauz Khas police station.
Baghel, a science graduate, had formed a real est-ate company in 2007. There were eight directors in his BPN Real Estate Company, including him. He opened around 25-30 branches of his company in different cities in 2007. Through its agents, the firm used to lure people to invest money in recurring deposit and fixed deposit policies with promises to return money with huge profits.
“A large number of people accepted their offer and invested their hard-earned money in the company. In 2009, they changed the name of company to Sunshine Infra Build Corporation Ltd and transferred all the cash and data to the new company and disappeared in 2013. After the directors of the company disappeared with investors’ money, the police in Madhya Pradesh and Chhattisgarh registered five cases of cheating against the company and its directors,” said a senior city police official.
The Delhi police has informed the Chhattisgarh police about Baghel’s arrest. The Chhattisgarh poli-ce visited the city and took the accused with them on four-day transit remand.
