India News | Retired Lt Colonel Held for Duping Army Personnel of Rs 88 Lakh
Get latest articles and stories on India at LatestLY. A retired Lt colonel was arrested for allegedly duping Army personnel to the tune of Rs 88 lakh after promising them residential plots, police said on Wednesday.
New Delhi, Oct 7 (PTI) A retired Lt colonel was arrested for allegedly duping Army personnel to the tune of Rs 88 lakh after promising them residential plots, police said on Wednesday.
Retired Lt colonel and Kirti Chakra recipient Rakesh Rana was arrested from his residence in Dwarka on Tuesday.
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According to a complaint lodged by Havaldar Chandan Kumar and a few others, Rana told them that he's running an NGO called SWO-India for the benefit of Army personnel. But the accused asked the investors to deposit money in SWO India Ltd, a company of identical name.
He assured them that they would be getting residential plots in Jharkhand.
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During investigation, it was revealed that Rana induced the Army personnel that the 'Veer Aawas Bokaro' project was of 20-acre land and the land had been purchased and necessary approvals had been taken, Joint Commissioner of Police (EOW) O P Mishra said.
The company provided an allocation letter-cum-agreement on receipt of the total amount but it neither provided the plots, nor returned their money, he said.
According to police, the company has no land, requisite sanction or approval from the authority concerned.
Police found out that Rana was the authorised signatory of various accounts of the company, Mishra said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)