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Delhi: Economic offence wing arrests real estate developer for alleged fraud

ANI  |  New Delhi [India] 

Delhi Police Economic Offences Wing (EOW) on Friday arrested Yogesh Sharma, of from for allegedly inducing the public to invest in the project "Big Bull Ashiana" in Jaipur, and usurping the money from the investors.

Sharing details of the arrest, EOW informed that the accused along with other directors and had induced the public to invest in their project "Big Bull Ashiana" situated at Chandwaji, NH-8, Jaipur, and usurped the money obtained from the investors.

"Presently there are thirteen victims involving the amount of several crores. Accused is on PC remand. None of the accused directors had joined investigation till date and are absconding. The alleged company had neither developed the said project nor obtained any approval from concerned authorities. Investigations are on to unearth the details of the and money siphoned off and to trace the whereabouts of the other accused directors," informed the economic offences wing.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, January 12 2019. 05:50 IST