Delhi tops India list for property fraud cases. Here's how people are being duped

Delhi tops the list in terms ofcases related to property fraud and misappropriation among allstates and union territories in the country, according to theNational Crime Records Bureau (NCRB).

The total number of cases reported in sections of propertylost under criminal breach of trust and cheating during 2013was 181, the highest in the country, the report says.

While eight cases among them were of criminal breach oftrust, 173 cases were of cheating.Delhi was closely followed by Maharashtra with 176 cases,while Punjab came third with 82.The Economic Offences Wing (EOW) of Delhi Police whichinvestigates financial crimes also says that there has been aspurt in such cases.

“Around 30 percent of all the cases which are reportedto us are related to real estate,” Joint Commissioner ofPolice (EOW) Satish Golcha told PTI.Selling mortgaged property to multiple buyers or on fudgedpapers have been the typical methods, but now people arecoming up with unique ways to con investors these days,police said.

“In a recent case, a real estate firm in its promotionaldocuments used projects executed by some other entity to gaininvestors’ trust,” said a senior police official.An FIR was lodged by one Surrinder Kumar Bangla, a formerAssistant General Manager at SBI, against the promoters ofCosmic Structures Ltd at Janakpuri Police Station of WestDelhi under provisions like Sections 420 (cheating), 120B(criminal conspiracy), etc.

Bangla allegedly paid Rs 70,000 and booked a virtual spacein an upcoming tower in Noida of Cosmic Structures Ltd afterits promoters provided him with a list of projects theyclaimed to have developed, constructed and delivered acrossthe country.

“However, Bangla later came to know that the projectsCosmic Structures Ltd was boasting off were actually of
Quality Constructions and he demanded a refund. He laterapproached court and got an FIR registered. Police is
investigating the case,” said the official.Meanwhile, the owner of Quality Constructions, RajeshLamba, who is the brother of late cricketer Raman Lamba,approached Delhi High Court requesting it to restrain CosmicStructures Ltd from using his name for their promotion.The ruling as sought was granted to Lamba by the court inan order on April 3. He has also filed a case in this regardat EOW and it currently is under investigation.

PTI