Gurgaon: A builder was arrested after a city-based real estate firm and its associates allegedly cheated a buyer of Rs 17 crore on the pretext of selling 11 acres of land in Haryana’s Palwal district using forged agreements and fake assurances.Police arrested 50-year-old Mahesh Mugam from Noida Sector 75 on Friday after a case was registered at Sector 40 police station under relevant sections and the investigation was handed over to the economic offenses branch following a complaint.Police said Mahesh, the owner of Neon Infra Construction Solution, worked with other associates to lure people into fake property deals. An officer said, “The complainant transferred the money directly into the bank accounts of the accused’s company and associated firms.”The buyer lodged the complaint earlier this year, alleging that representatives of Neon Infra showed him documents related to land situated in Ghughera village in Palwal and “persuaded” him to purchase the property. The accused executed an agreement to sell the 11.3-acre plot on Aug 1, 2024, and subsequently collected the amount from the complainant in lieu of the land price and other associated expenses.Police said the accused failed to get the land registered despite receiving the money and continued to mislead the complainant for months. An officer said, “It is suspected that the deal was part of a planned conspiracy aimed at cheating investors through fraudulent land transactions. The accused will be interrogated to ascertain the nexus of their operation.”Police are now examining financial transactions, company records and other documents linked to the case to trace the money trail and identify additional suspects involved in the fraud. The accused was produced before a court.
