Man, daughter among three booked in ‘Rs 100-cr investment fraud’

In the Sugandh Vihar area, a man, his daughter and another woman committed an alleged fraud of Rs 100 crore with people in the name of investment in a property development project. They were supposed to allocate land to the investors. But later, the suspects registered the land in the names of their relatives and entangled the company by filing false cases against it.

When the company discovered the fraudulent registrations, they informed the police.

Following an investigation, the Sadar police on Tuesday registered a case based on a complaint filed by the YBG Action Core Committee, City Plaza, Avon Sugandh Vihar, against Director Gurjit Singh Garewal of Gujjarwal village, his daughter Anjana Garewal and company employee Rajinder Kaur Rashi. At present, the police are trying to locate the suspects.

SHO Inspector Avneet Kaur of the Sadar police station said the suspects were supposed to launch a project and got people invested crores of rupees. They purchased a piece of land from officials of the YBG Action Core Committee and gave the company an earnest money deposit. After receiving the money, instead of completing the project, the suspects filed lawsuits against other company directors to secure a larger share and failed to complete the project.

The suspects were supposed to execute registry deeds for several people under the project but they invested close to Rs 100 crore from the people and instead of registering the properties in the investors’ names, registered them in the names of Anjana Garewal and Rajinder Kaur Rashi.

Inspector Avneet Kaur said the case was registered after a probe by officials. The suspects had not been arrested so far. Further investigation would follow soon and they would be nabbed.