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Man arrested for duping investor of Rs 1.25cr

Press Trust of India  |  New Delhi 

The has arrested a 53-year-old man for allegedly duping an investor of Rs 1.25 crore on the pretext of providing exciting opportunities to purchase properties, police said today.

The accused, Pankaj Dayal, was arrested on Monday and was produced before a court the next day and was sent to judicial custody, they added.

Dayal was arrested from Nehru Place in connection with a cheating case of 2014, they said.

He had opened a company in the name of Realtech Constructions and he used to lure investors by telling them that they could make money money by investing in property and would take money from them, police said.

Later, he would keep delaying the project' for some reason or the other and used to abscond later, police said.

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

First Published: Wed, May 16 2018. 21:30 IST