Delhi has reached the top with highest rate of property fraud & misappropriation among all of the union territories and states across the country as reported by NCRB (National Crime Records Bureau).
According to a report, In 2013 total no of cases of reported in sections of property lost under the criminal breach of trust and cheating was 181. Among the above reported cases only 8 were of criminal in nature rest 173 cases were reported of cheating. Maharashtra closely followed Delhi with 176 cases, and Punjab came 3rd with 82 cases. EOW (Economic Offence Wing), Delhi Police has also confirmed there has been an increase these cases.
Joint Commissioner of Police (EOW) mentioned 30% of the total reported cases of were of real estate.These cases generally involved selling mortgaged property to more than one buyers has been the most common way of these cons but these days cons are coming up with new creative ideas to con individuals.
In a recent case filed against the promoters of Cosmic Structures Ltd by A formed AGM (Assistant General Manager) under the section 420 (cheating) and 120B (criminal conspiracy) has mentioned that the promoters used some other entity in the promotional document in order to gain investors trust.
After receiving a list of projects the promoters claimed to have constructed and delivered across India, the victim had paid Rs. 70,000 to the promoters and booked a virtual space in the upcoming project of Cosmic group in Noida.
Although the victim later came to know that the project Cosmic Structure Ltd. Were promoting belonged to Quality Constructions therefore he demanded a refund. He later filed an FIR registered, while approaching the court.
The owner of Quality Constructions on getting informed about the incident, request the Delhi High Court to restrain Cosmic Structure Ltd from using his name for their promotion.