Jabalpur: A banned builder of Madhya Pradesh, Neeraj Lalit, who is the owner of Earth Developers, has been arrested by police in the case of defrauding a senior Indian Navy commander of 50 lakh rupees. The police say the defendant seduced the navy officer with plans of getting him big returns by investing in his real estate company. He said he was working on a large farmhouse project that would span 32 acres of land and promised some high returns to the victim.
In a show of trust during the proposal, the commander paid an amount of 50 lakhs in several instalments. But when the date arrived to do the registry of the land, the Earth Developers builder started to postpone the operation with many excuses. His elusive attitude in the end aroused suspicion, causing the naval officer to explore further into the issue. It quickly emerged that the sale of land was fake news, and the officer had been had.
After seeing the deception, the commander had a formal complaint registered at the Bargi police station. He also provided all the documents that were required to be provided in the land deal to facilitate the investigation. According to the facts police initiated an investigation and arrested Neeraj Lalit. In his initial actions of questioning, Lalit confirmed that he had accepted the money under false pretences.
The government believes this could not be a one-off. Investigators suspect that the suspect would have defrauded a number of other people with other kinds of fraud. Lalit has now been taken on remand by the police, who are querying him in detail so as to find out the absolute scope of his activities.
This accident reminds us that we must be careful and confirm credentials where a large amount of investment is involved, and where we have to be careful, particularly in the business of real estate, as there are rising cases of financial fraud being committed in the real estate industry. More awaited updates are how the investigation is progressing.
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