Directors of group housing project arrested for fraud

New Delhi, 17 Dec (ANI): Economic Offences Wing (EOW) of Delhi Police has arrested accused Aniel Kumar Saha, Aunirban Saha and Ashok Kumar Sirohi for duping more than 20 innocent buyers to the tune of Rs 20 crore. The accused persons lured the buyers to invest in the housing project on the pretext of huge profit. Further, the accused persons executed buy back agreements as a fake assurance to the victims. Cheques which were issued by accused persons for assured returns were dishonoured on presentation. Accused persons neither completed the project nor complied with the terms and conditions of buy back agreement. During the course of investigation, it emerged that the alleged company accepted bookings from the investors for the said project and diverted these funds to develop their personal real estate project. By adopting this modus operandi, the alleged persons siphoned off the funds of complainants in other companies. The alleged company initially paid returns to investors to gain their confidence and stopped the payments later, after collecting huge money. They also left the project abandoned. The accused persons deliberately changed the address of the company without intimating the investors.