Trader held for duping investors, sent in 3-day PC
New Delhi: A businessman has been arrested for allegedly duping thousands of investors of lakhs of rupees since 2008 in the name of bogus prospective high-end residential societies and townships which he promoted through seminars.
Rakesh Goel, the director of a company called Cosy Marketing Pvt Ltd, was arrested by the Economic Offences Wing of the Delhi Police.
He was produced before Additional Chief Metropolitan Magistrate Rakesh Kumar who remanded Goel in three days of police custody which will expire tomorrow.
"Custodial interrogation of accused appears to be necessary to unearth the entire truth and recovery of alleged cheated amount and documents in respect of purchase of land," Kumar said.
The police while seeking Goel's custody, told the court that prima facie a case of cheating and other offences is made out against him.
Goel was arrested after an FIR was registered against him under section 420 (cheating), 406 (criminal breach of trust) and 120B (criminal conspiracy) of the IPC and also under the provisions of Prize Chit and Money Circulation Scheme (Banning) Act.
The FIR was registered on a complaint by one Vikas Batija, who alleged that in December 2008, he attended a seminar hosted by Goel here.
During the seminar, Goel promoted his company's multi- level marketing plan and claimed that his company is developing a township in Pushkar, Rajasthan with all high-end facilities like golf course, shooting range and college.
He asked the participants to become members by paying Rs 11,000, Batija alleged.