Three company directors arrested for duping home buyers

New Delhi, Dec 11 : The Economic Offences Wing of Delhi Police has arrested three accused, Aniel Kumar Saha, Aunirban Saha and Ashok Kumar Sirohi, all residents of Noida in Uttar Pradesh, for duping more than 20 buyers to the tune of Rs 20 crores. The arrests were made from Noida and Faridabad.
According to police, a complainant alleged that being the directors of the company the accused persons induced her by painting a rosy picture of their group housing project and cheated her of Rs 5.44 crores. The accused persons persuaded the buyers to invest in the project on the pretext of making a huge profit. They also executed buy-back agreements but the cheques which were issued by the accused for assured returns, were dishonoured on presentation.
“The accused persons neither completed the project nor complied with the terms and conditions of the buy-back agreements. Thus, the accused persons cheated the buyers to the tune of Rs 20 crores,” said OP Mishra, Joint CP of the EOW.
The case was registered in the EOW last year U/s 406/420/120B of the IPC after an initial enquiry.
During the course of investigation, it emerged that the directors of the company persuaded the victims to part with their money on the pretext of high returns by investing in their group housing project named “AMEDEUS”, situated at Noida.
The alleged company accepted bookings from the investors for the said project and diverted these funds to develop their real estate project. By adopting this modus operandi, they siphoned off the funds of the complainants to other companies.