Delhi EOW arrests Ghaziabad builder for duping investors of Rs. 10 crores

New Delhi, August 17

The Delhi Police Economic Offences Wing (EOW) arrested a builder from West Delhi for allegedly duping 31 investors of over Rs 10 crore. 

The accused was identified as Deepak Gusain, a builder from Ghaziabad.

The EOW had also issued a look-out circular and a non-bailable warrant was obtained against him. He was also declared a proclaimed offender by Patiala House courts.

As per the complaint of the victim with the EOW, Gusain’s company had advertised bookings for shops and flats at a plot in Rewari, Haryana in 2012, following which investors booked them and made regular payments. Construction for the same had continued until April 2014, after which it stopped. 

The EOW investigation showed that he misrepresented facts to the public and solicited investment despite knowing that the land was allotted only for dwelling units of workers. Assuring investors of possession within 27 months, the accused allegedly fled and became untraceable, investigators revealed.

After analyzing the account of the accused’s company, it was found that the money of home buyers had been diverted into separate accounts, officers said, noting that no units or flats had been given to the complainants, officials said.

The EOW had received information that the accused would visit Tilak Nagar in West Delhi based on which he apprehended from the metro station. 

The officials further added that three other cases were pending against his company and its directors at Kasola station of the EOW in Haryana’s Rewari and at the Parliament Street station in Delhi. 

The accused has been booked under IPC sections 420 (cheating) 409 (criminal breach of trust by public servant/banker/merchant/agent), 406 (punishment for criminal breach of trust) and 120B (criminal conspiracy).