New Delhi, Dec 15 Delhi Police have arrested the son of a retired army officer for duping people to the tune of Rs 2.6 crore by promising flats on a 'fictitious land' in Delhi's Dwarka area, a police officer said on Wednesday.
R.K. Singh, Additional Commissioner of Police (Economic Offences Wing), said the accused has been identified as Vikram Sarin (40), who previously worked as AVP (sales and productivity) with CITI Bank, fraudulently sold residential flats in the name of CGHS Society on land allotted by the Delhi Development AUthority (DDA) in connivance with other co-accused in Dwarka.
Furnishing the details, Singh said a complaint was registered by 10 people against Iramya Developers Pvt Ltd and its directors, in which they alleged that the accused company through its managing director induced the complainants by way of false representation that a parcel of land was allotted by the DDA to 'Status CGHS' at Dwarka, Delhi.
The firm reportedly launched a residential project, namely 'Iramya Heights', in Sector 14, Dwarka, and induced the buyers to purchase units in the said project.
"The complainants made a total payment of around Rs 2.6 crore against the bookings of their respective units," the official said, adding that the accused company promised the possession of the units within three years of booking.
During the course of investigation, it was found that no land was ever allotted to the alleged company, Status CGHS, by the DDA.
The accused used to induce and lure the victims residing in their vicinity to invest with them under the pretext of providing them flats. The cheated amount was received in cash as well as through banking channels.
The accused, Vikram Sarin, was the founder director of the alleged company, Iramya Developers Pvt Ltd. The polcie said that Sarin along with late Omparkash Dhakolia, an ex-DDA employee, lured the victims in the name of two 'DDA allotted' plots in Sector 6 and Sector 14, Dwarka.
"The accused persons had entered into criminal conspiracy and sold the units to gullible investors and received the funds without having any authority or permission or any land," the police said.
The accused has been arrested under Sections 406, 420, 120B and 34 of the Indian Penal Code.
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