The Economic Offences Wing of the Delhi Police has arrested a father-son duo who have allegedly cheated more than 600 investors of crores of rupees, including senior central government officials, under the pretext of investment in DDA’s Land Pooling Policy Project.
The accused have been identified as Ashok Sharma and his son Nitya Sharma and are residents of Paschim Vihar in West Delhi.
The probe was initiated after a complaint was filed by PK Gautam, Deputy Director (Security), Rajya Sabha and several others against the accused and Skylark Multi-State Group Housing Society.
It was alleged that the father-son duo had projected and misrepresented that the project was a part of the Land Pooling Policy of Delhi Development Authority (DDA). They also allegedly claimed that there was a P-2 Zone in Narela, Delhi, where residential flats of different categories would be developed.
The accused managed to get Rs 19 crore invested from 600 members of the Society.
However, no land has been purchased till date and the collected amount has not been returned to the complainants.
Investigations revealed that DDA had not issued any approval and license to any housing project under Land Pooling Policy. In addition to this, it is illegal to advertise about any plot or flat in any project without registration of the project under the Real Estate Regulatory Authority Act-2016.
Details of bank accounts were scrutinized and it was found that accused persons had withdrawn huge amounts in cash and had also siphoned off around Rs 9 crore.
About the father-son duo:
The main accused, Ashok Sharma, initially formed a society, Skylark Cooperative Society, wherein he had handed over a completed project in Dwarka. Then, he came into contact with government officials and started making contact with senior officers of different ministries and departments to lure them to invest in affordable housing projects under the Land Pooling Policy of DDA and cleverly misrepresented the facts and used his previous knowledge and experience to convince investors.
Another accused, Nitya Sharma, managed the affairs of the Society as CEO and conspired with his father to cheat investors.