60-yr-old held for Rs 200-cr fraud

The Economic Offences Wing (EOW) of Delhi Police on Saturday arrested a 60-year-old man, who allegedly duped people of more than Rs 200 crore.

The accused, Vijay Dixit, who allegedly posed as a businessman to dupe people, was wanted in around 30 cases of cheating. On the run for long, police had declared him a proclaimed offender.

"The accused had floated a number of companies, including M/s Senior Builders Ltd. and M/s Senior Power Projects Ltd. He posed as a builder, developer as well as financial advisor with membership of Multi Commodity Exchange (MCX)," Joint Commissioner of Police (EOW) Praveer Ranjan said. "He conned investors by promising high returns on their investments in big-ticket real estate projects."

In one case, Dixit allegedly took money from several people, promising them plots in Sonepat. Police said he neither owned land there nor had permission from the authorities for such a project. After collecting the money, he fled.

In another case, he allegedly promised the owner of a property in Defence Colony that he would develop the place. He cheated the owner of more than Rs 90 lakh, police said.

The accused allegedly floated a company called M/s Senior Power Projects Ltd and convinced people to invest in it, promising high returns. After receiving investments of Rs 1.70 crore, he shut down the office and fled.

Police received a tip-off that the accused was hiding at a farmhouse in Mahipalpur. A police team raided the place and arrested him.

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