Man who used puppet directors to cheat investors held by EOW

New Delhi, Sep 24 (IANS) The Economic Offences Wing of Delhi Police has apprehended Pankaj Dayal, a resident of Sainik Farm, New Delhi from his newly established office at Greater Kailash for allegedly cheating a company of Rs three crore.

To evade arrest, he got several companies incorporated and appointed the people who were in search of the employment as directors and operated the companies from behind the scenes. Dayal allegedly lured innocent buyers to invest in the property and duped them.

According to the police, the accused Pankaj Dayal misrepresented the complainant company M/s Blue Cloud Infra Pvt. Ltd. to believe that his company M/s Amenity Promoters Pvt. Ltd was in the process of purchasing of 5.06 acres of agriculture land in village Jhatikara, Tehsil Kapashera, New Delhi for which the company had already paid Rs. 3 Crore as advance to the land owner.

Dayal further said that he will conclude the purchase of the land and find a suitable third-party buyer. The complainant was misled with the promise of hefty profit sharing by further sale of property and Rs. 3 Crore siphoned off.

“During the course of the investigation accounts statements were scrutinised. It came on record that accused Pankaj Dayal is the shareholder and one of the authorised signatory of the bank account of the alleged company. A sum of Rs 95 lakh paid by the complainant in the account of the alleged company was siphoned off by accused Pankaj Dayal on the same day and diverted in his personal account for his own use,” said OP Mishra, Joint CP EOW.

The investigation revealed that the money as agreed with the land owner was not paid by the accused. The directors of the accused company were his employees and the accused was looking after the affairs of the alleged company.

“After the accused started avoiding the investigation and court proceedings, he was apprehended from his newly established office at Greater Kailash,” said the officer.

–IANS

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