New Delhi: Two real estate dealer Police said on Thursday that he was arrested on charges of embezzlement of money of people invested in luxury apartments in Delhi/NCR.
The accused have been identified as Pawan Bhadana (37), a resident of Noida, and Ravi Kumar Shukla (37), a resident of Greater Noida West, he said.
Police said their arrest carried a reward of Rs 25,000 each.
Joint Commissioner of Police (Crime) Dheeraj Kumar said the accused were arrested from different places in Ghaziabad and Noida in Uttar Pradesh.
During interrogation, Bhadana revealed that he started working as a broker in 2006. real estate firms and later started their own firms and projects in Delhi/NCR and appointed him as their director, Kumar said.
Police said one of these projects was named ‘The Willow Luxury Apartments’, which was started under the real estate firm ‘Dreamland Promoters and Consultants Pvt Ltd’ in Crossing Republic, NH-24 Ghaziabad.
Police said Bhadana lured many people to invest in the project and offered them high returns and embezzled around Rs 1.75 crore out of the money invested.
Later, he closed the company without informing the investors and went underground, he said.
Police said that after realizing the fraud, several investors lodged FIRs at various police stations in Delhi.
Police said Shukla said he used to work as an operations manager at Dreamland Promoters and was involved in defrauding investors along with Bhadana and another director of the firm, Sanjeev Kumar Mavi.
The accused have been identified as Pawan Bhadana (37), a resident of Noida, and Ravi Kumar Shukla (37), a resident of Greater Noida West, he said.
Police said their arrest carried a reward of Rs 25,000 each.
Joint Commissioner of Police (Crime) Dheeraj Kumar said the accused were arrested from different places in Ghaziabad and Noida in Uttar Pradesh.
During interrogation, Bhadana revealed that he started working as a broker in 2006. real estate firms and later started their own firms and projects in Delhi/NCR and appointed him as their director, Kumar said.
Police said one of these projects was named ‘The Willow Luxury Apartments’, which was started under the real estate firm ‘Dreamland Promoters and Consultants Pvt Ltd’ in Crossing Republic, NH-24 Ghaziabad.
Police said Bhadana lured many people to invest in the project and offered them high returns and embezzled around Rs 1.75 crore out of the money invested.
Later, he closed the company without informing the investors and went underground, he said.
Police said that after realizing the fraud, several investors lodged FIRs at various police stations in Delhi.
Police said Shukla said he used to work as an operations manager at Dreamland Promoters and was involved in defrauding investors along with Bhadana and another director of the firm, Sanjeev Kumar Mavi.
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