Mumbai Builder & son held in 27cr fraud case

Mumbai based developer Jagdish Ahuja, along with his son Gautam has been picked up from a hotel in Kharar, Punjab and brought to Mumbai on account of fraud causes filled against him. The city’s Economic Offenses Wing (EOW) began its probe and upon collecting sufficient information, moved to make an arrest. The father-son duo is also being sued in 355 cases of bounced checks. This is the third time EOW has recorded offences against him. Offences identified by the EOW this time around amount to approximately Rs 27 crores.
Complaints who approached the EOW for a resolution are said to have invested in Mr Ahuja’s Chunabhatti development by paying him a sum of Rs 27 crores after which allotment letters and a pledge to hand over apartments was made. Some investors were promised a refund with interest should they wish to cancel their booking. However, Ahuja never registered the flats on the buyers’ names even after taking the money nor did he refund the money with interest when they wished to cancel their purchase.
The builder is said to allegedly be on the run, constantly changing his identity, location and contact information to avoid being caught. The police were finally able to nab him and his son after going through known associates’ social media profiles. In addition to the charges being levied by the EOW, Mr Ahuja several cases of cheque fraud registered against him in Sewri Court, Ballard Pier Court, and Bandra Court. The Mumbai Police has registered two FIRs and issued and LOC in his name.

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Mumbai Builder & son held in 27cr fraud case

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