Police Arrests a Businessman for Duping Flat Buyers of Rs 14 Crore 

Police stated on Monday that a 64-year-old businessman was arrested for allegedly duping multiple people, including government officials, by guaranteeing them residential units within two years of receiving allotment letters.

According to them, Diwaker Sharma, who was seized by the Delhi Police’s Economic Offences Wing (EOW), is a director of a firm he founded with his accomplice Piyush Tiwari.

According to police, Sharma, a graduate of Delhi University, worked at the Ministry of Agriculture before becoming a section officer in the Ministry of Science and Technology. They claimed he resigned from his position as undersecretary.

According to authorities, the duo took money from people and stole it by diverting it to numerous group firms and projects.

According to them, the arrest was conducted on the basis of a complaint filed by Gulshan Sethi in 2016 against Shubhkamana Buildtech Pvt. Ltd. and its directors Tiwari and Sharma.

According to authorities, the accused promised them flats in their project Shubhkamna City, which was intended to be developed in Greater Noida, Uttar Pradesh, between July and September 2013.

According to Sethi, the firm’s directors promised him and several others that they would complete the project within two years of receiving allotment letters.

However, according to police, they were unable to complete the job.

According to them, the FIR has more than 60 complaints, and the accused have “taken” more than Rs 14 crore.

According to investigators, they used advertisements and agents to persuade government and public sector employees, among others, to purchase flats.

Documents collected from authorities during the investigation revealed that unit bookings were made prior to statutory permissions, according to Joint Commissioner of Police (EOW) Chhaya Sharma.

The Government and Public Sector Employees Welfare Housing Organization (GAPSEWHO) and Shubhkamna Buildtech Pvt. Ltd were used to book the flats, according to the officer, who added that Sharma formerly worked as a secretary at GAPSEWHO.

“Sharma and his accomplice Tiwari were both involved in the affairs of the accused company. During the examination, it was also discovered that Tiwari had made several allotments of flats in the project. Sharma had worked as a secretary for GAPSEWHO and then founded Subhkamna Buildtech Pvt. Ltd. in 2006 with the goal of defrauding individuals in the real estate market “she stated

Further inquiry found that Tiwari became the company’s director in 2011, according to Chhaya Sharma, who also stated that they convinced apartment buyers to invest in their project.

Sharma was taken into custody from the Mandoli Jail, but Tiwari remains at large and has been handed a non-bailable warrant, according to police.

Sharma launched his own real estate company and initially worked on a few small projects, according to the sources.

Source: The Times of India