New Delhi: Noida police have arrested Yogesh Sharma (38), a real estate developer, for allegedly defrauding over 30 investors of Rs 2.3 crore. Sharma, along with accomplices, is accused of luring mainly middle-class buyers into investing in a pre-launch housing project in Jaipur’s Chandwaji area.
Investigations revealed that the land meant for the project had already been sold to other parties, and no official construction permissions were ever obtained. Police said investors were misled with project boards placed on unrelated land and pamphlets falsely claiming the completion of multiple projects.
“The funds collected from buyers were diverted to other purchases, and no alternative arrangements were made for the affected investors,” said DCP Ravi Kumar Singh of the Economic Offences Wing.
Authorities have registered a case under applicable economic offences and fraud laws, and the investigation is ongoing to trace all accomplices involved in the scam.
