Accused arrested for duping investors of Rs 2.50 cr

Accused arrested for duping investors of Rs 2.50 cr

The Economic Offences wing of Delhi Police have arrested K Ponniah for inducing and duping investors in the name of investment in a housing project.

The alleged persons falsely assured the complainant that he has commenced construction and would complete the project.

However, even after 5 years of investment, no possession was given to victims. It is found during the investigation that the accused constructed two towers namely Tower No 24A and 24B in Village Poachanpur, Dwarka Sector 23 Delhi in collaboration with land owner.

Later, it was found that the accused had been taking bookings of flats that were owned by the land owner as per the collaboration agreement.