Cheat sent to police custody for duping Rs 54 crore

The Economic Offence Wing of the Delhi Police was on Thursday allowed by a court here to quiz a man who was arrested for his alleged role in a cheating case to the tune of over Rs 53 crore, in its custody for five days.

Metropolitan magistrate Munish Markan remanded Gurgaon resident Suresh Kumar Sharma to police custody till February 21 saying a detailed probe was required to ascertain the money trail. 

Sharma was arrested on Wednesday on a complaint by A D Kaushal on behalf of M/s Vikram Electrical Equipment Pvt Ltd, a firm engaged in business of procuring contiguous land in Gurgaon and NCR for companies.

The prosecution, while seeking six-day police custody remand of the accused, said 59-year-old Sharma, along with his son, had cheated and misappropriated 78 cheques and transferred Rs 53.98 crore to the accounts of his family members.

“Detailed investigation is required to trail the money misappropriated and properties purchased. Therefore, considering the nature of the offence and totality of facts and circumstances, accused Sharma was sent to police remand for a period of five days,” the magistrate said.

Identity concealed

Police told the court that in 2004, Sharma had approached M/s Vikram Electrical Equipment Pvt Ltd and promised prime contiguous land in Gurgaon provided the payments were readily available to deal with the farmers or sellers of the land with the condition that identity of the company shall be concealed.

“Shiv Raj Singh Dabra was used as a front man before farmers instead of the company.

The complainant company transferred huge amount into the account of Dabra. The accused father and son collected the blank cheques from Dabra to strike the deal with farmers and used these cheques for advanced payments,” police, in its remand application, said.

Police said instead of handing over the cheques of the company to farmers, Sharma and his son transferred the money in their and in those of their kin’s accounts for allegedly purchasing properties.

Interrogation

“Sharma has misappropriated 78 cheques and transferred an amount of Rs 53,98,83,972 in various accounts of his family members,” police said. It said the accused was required to be interrogated to ascertain where he has siphoned off the cheated money and to know about his absconding son Parvesh Sharma. 

Police said the documents of the properties, which he purchased with the cheated money, was also required to be recovered.