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After Duping 700 Investors Worth Rs 7cr in Dwarka, Delhi Fugitive Sets up Shop in Kolkata, Arrested

On the run for three years, Jai Prakash Saini and his associates allegedly created a society, titled Vedanta Welfare Society, and lured about 700 unsuspecting investors with promises of apartments in the Bakhtawarpur area of Delhi.

Sujit Nath | News18.com

Updated:August 31, 2019, 6:29 PM IST
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After Duping 700 Investors Worth Rs 7cr in Dwarka, Delhi Fugitive Sets up Shop in Kolkata, Arrested
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Kolkata: A millionaire fugitive wanted in nearly 700 cheating cases in and around Delhi was arrested on Friday from Kolkata after being on the run for about three years. The accused, identified as Jai Prakash Saini and a resident of Dwarka in Delhi, was wanted in a case (FIR No. 222 under sections 406/420/468/471/120B/34 of the IPC) from 2016.

Saini and his associates allegedly created a society, titled Vedanta Welfare Society, and lured people with promises of apartments in the Bakhtawarpur area of Delhi. He claimed to the investors that he had a 30-acre a land in the area.

Over 700 people invested in his venture following which he went missing. The matter came in lime light when RN Govil, a local and one of the victims, lodged a complaint at the Subhash Place police station. Soon after, complaints started pouring in at various police stations in Delhi and NCR.

The matter was taken over by the Inter-Border Gangs Investigation Squad of the Crime Branch and during investigation officers received a lead that Saini was hiding in Kolkata with a false identity as Trilok Singh Sindhu.

Additional Commissioner of Police (Crime), Delhi Police, Ajit Kumar Singla, said “Besides cheating them on the pretext of having land the Bakhtawarpur area and convincing them to put in their money, he also posed as an owner of several flats in the Dwarka area. He took advance amount from the victims and when the victims started putting pressure on him to get the sale deeds registered, Saini started avoiding them. He then absconded with their money worth Rs 7.21 crore. About 700 investors were duped.”

“Recently, one of our officers received a tip off that Saini is involved in similar kind of activity in Kolkata using a fake identity. We immediately sent a team led by Decupty Commissioner of Police Joy N Tirkey. He was arrested and produced in a Delhi court within 24 hours.”

Probe revealed that Saini was running his office from various hotels in the city and was luring people to invest in lands and flats in New Town, Santoshpur, Behala, Joka and adjoining areas of Kolkata.

He had multiple hideouts in Kolkata, but was arrested from a place close to Salt Lake. He maintained a low profile during the last three years, but used to hire luxury cars while meeting investors at starred hotels. A post-graduate holder from Delhi University, Saini started working as a real estate consultant in the Dwarka area in 2002. Soon, he took to duping unsuspecting investors to to earn quick money.

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| Edited by: Sohini Goswami
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