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DELHI POLICE EOW ARRESTED ONE MEMBER OF MASTERMIND ‘FANTASTIC FOUR’ GROUP INVOLVED IN CHEATING

November 20, 2020 08:26 PM

 ‘FANTASTICFOUR’ WAS CONTROLLING ALL THE ACTIVITIES WITH A DEDICATED WHATSAPP GROUP IN THIS NAME, MISAPPROPRIATING CRORES OF RUPEES OF THE VICTIMS ,OUT OF MORE THAN RS. 29 CRORES CHEATED FROM APPROXIMATELY 250 INVESTORS, AMOUNT OFONLY RS. 6.75 CRORES WAS UTILIZED FOR PURCHASE OF THE LAND., REMAININGAMOUNT OF APPROX. RS.22.25 CRORES WAS MISAPPROPRIATED AND SIPHONED OFF TOVARIOUS OTHER ENTITIES AND FOR PERSONAL USE.

 New Delhi (Face2News)

Various attractiveschemes were being floated in the market by different Societies/Builders in thename of DDA’s Land Pooling Policy demanding registration fee/ initial paymentbooking of property/ flats. However, DDA has not issued any license orauthorized any Developer/Builder/Society/Company to undertake the process of development in the sectors under land pooling policy.

Further, DDA shall beable to issue such provisional/ final development licenses once the sector isqualified for development. As per the notified policy, in order to make thesector eligible for development, a minimum of 70% contiguous land of thedevelopable area within the sector - free of encumbrances is to be pooled.

The investigation has revealed that Delhi Development Authority (DDA) envisaged a policy in the name of LandPooling Policy for ensuring availability of sufficient houses under planneddevelopment of Delhi and in anticipation of this scheme, various Builders andPromoters grabbed it as an opportunity to exploit the situation by showing rosypictures to innocent flat buyers and raised huge amounts from them for advancebookings in the name of registration/allotment etc.

DR.O.P. Mishra, Joint Commissioner of Police, EOW, said,  as per the investigation and the contents available on the alleged website it hascome out that the name of land pooling policy of DDA has been used to give animpression and spread a message in the masses that the projects are dulyauthorized by the competent authority. In this way, the facts have beenmisrepresented and the material information with regard to the DDA’s approvalpertaining to the proposed projects has been suppressed in order to induce thepublic at large. Present case FIR No. 14/2020, dated03.01.2020, U/s 406/409/420/120 B IPC P.S EOW, Delhi belongs to SocietyAerocity Dwarka, Delhi.

INVESTIGATION:  The investigation has revealed that Delhi Development Authority (DDA) envisaged a policy in the name of LandPooling Policy for ensuring availability of sufficient houses under planneddevelopment of Delhi and in anticipation of this scheme, various Builders andPromoters grabbed it as an opportunity to exploit the situation by showing rosypictures to innocent flat buyers and raised huge amounts from them for advancebookings in the name of registration/allotment etc.

As per the reportprocured from DDA, it has not issued any license or approval to any of theseSocieties and no one is authorized to advertize/Market/book/sell/invite personsto purchase any plot/flat in any project under the land pooling area withoutany prior registration of the project under RERA.

Amount of more thanRs. 29 crores was collected by the Society from approx. 250 gullible investorsand only Rs. 6.75 crores out of it was utilized for purchase of the dedicatedland for the project in question and the remaining amount of Rs. 22.25 crores(approx) was misappropriated and siphoned off to various other entities.

TEAM: A team consistingof S.I. Virender, HC Pradeep, and Ct. Mandeep Singh under the supervision ofACP Anil Samota, was constituted to trace the accused person.

MODUS OPERANDI: Grabbing the DDA’s newly launched Land Pooling Policy asan opportunity in view of heavy housing requirement in Delhi.

II. Inducement to the public through misrepresentation of thefacts pertaining to this policy and offering affordable housing at prime locationsto the persons in dire need.

III. Using Aggressive Marketing through mass messages,fictitious portals, electronics advertisements on e-Media, circulation ofpamphlets etc. with regard to the Society Projects and collecting investmentsfrom the public at large in the form of bookings.

IV. Hefty commissions to the agents bringing the bookings of these housing projects.

V. Siphoning off and diverting the investments of theinvestors for personal gains. 

ARREST: On the basis of themeticulous investigation and development of information by EOW, accused Lokesh Gidwaniwho was absconding after dismissal of his anticipatory bail, was apprehended. Further, investigation regarding the roles of other conspiratorsand associated persons is in progress. Five accused persons - Pawan Sahay,Raghu Nandan, Mohd. Slahuddin, Ratan Singh Negi and Mrs. Ankita Singh havealready been arrested in this case. 

Accusrf Lokesh Gidwani S/oSh. Prakash Gidwani R/o House No- 1105, Tower No- 25, Paras Tierea, Sector-137,Noida, Expressway, U.P- 201301, Age-34 years is one of the mainaccused persons carrying out all the activities and getting benefitted out ofthese. The office bearers of the alleged society used to operate and functionunder the supreme control of Nivesh Global. Accused Lokesh Gidwani along with other three associates haddirect influence upon the alleged society and as such, all these four werecollectively called as “Fantastic Four”. A WhatsApp group with this namewas also created by them.

This accused, one among the “Fantastic Four” is a beneficiary inCrores of rupees of the misappropriated funds of the Society. His anticipatory bailapplication has already been dismissed by the Court. All the relevant BankAccounts have already been got debit freezed. Further Investigationis in progress. 

 
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