Noida builder held for fraud

September 14th, 2010 - 2:25 am ICT by IANS  

Noida, Sep 14 (IANS) The chairman of a leading private company, Nitishree Builders, was Monday arrested for defrauding people of huge amounts of money, police said.
Company chairman Anil Kumar Jain was arrested for several fraud cases registered against him. His son Ankur and wife Reena are absconding.

“Anil Kumar Jain had 10 cases of fraud (Section 420 of the Indian Penal Code) registered against him at Sector-20 police station alone. While investigations are still on, a chargesheet filed in one of the cases found his involvement,” Additional Superintendent of Police Alankrita Singh said.

Kumar was also blacklisted from the Noida Authority three years ago for his involvement in group housing society scams involving several crores, the official said.

Another police official said: “The builder amassed money from people in the name of soft-launching or pre-launching. He offered them flats and shops on land that he never actually owned. In many cases, he took money and never gave them allotments and later did not return the money as well.”

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