A 56-year-old man who duped several people by making them invest in disputed plots and minted money in crores, was arrested by the police said on Thursday.
Satish Chaudhary was evading arrested for the past eight years. He and his partners forged documents of several industrial plots and factories which were under dispute. But his documents showed that the properties were ready for sale.
He would target disputed large factories, which had defaulted in loan payments and were on the verge of being sold off by court appointed liquidators.
He changed his partners with every new transaction and made them look like other purchasers from Debt Recovery Tribunal (DRT), which settles cases on plots which are not paid for by the loan takers.
He took these buyers to the actual sites, to make them feel secure about their investment. "Even if he found any caretaker, he would bribe or somehow managed to do the inspection," said police.
Many people agreed to purchase the properties from him, which were sometimes only on paper or impunged properties. They used to pay him the token money or advance and before the deal could be finalised the documents were proven to be forged, said police.
He kept a low profile and deliberately did not own any property himself but invested in the names of his family to prevent proclamation of the same, said police.
He has been accused in 24 cases across Uttar Pradesh and Delhi. Three of them came under Economic Offences Wing of Delhi Police, which mainly pertains to serious frauds like in banks, Public Limited Companies and narcotics.
According to police, inputs were received by Crime Branch regarding the movements of Chaudhary in Saharanpur, UP, Yamuna Nagar, Chandigarh and Jagadhri. On Sunday he was apprehended in State Highway 3 near Sadaura, Haryana.![]( "Satish Chaudhary was evading arrested for the past eight years. He and his partners forged documents of several industrial plots and factories which were under dispute. But his documents showed that the properties were ready for sale. DH graphic. For representation purpose")
A 56-year-old man who duped several people by making them invest in disputed plots and minted money in crores, was arrested by the police said on Thursday.
Satish Chaudhary was evading arrested for the past eight years. He and his partners forged documents of several industrial plots and factories which were under dispute. But his documents showed that the properties were ready for sale.
He would target disputed large factories, which had defaulted in loan payments and were on the verge of being sold off by court appointed liquidators.
He changed his partners with every new transaction and made them look like other purchasers from Debt Recovery Tribunal (DRT), which settles cases on plots which are not paid for by the loan takers.
He took these buyers to the actual sites, to make them feel secure about their investment. "Even if he found any caretaker, he would bribe or somehow managed to do the inspection,” said police.
Many people agreed to purchase the properties from him, which were sometimes only on paper or impunged properties. They used to pay him the token money or advance and before the deal could be finalised the documents were proven to be forged, said police.
He kept a low profile and deliberately did not own any property himself but invested in the names of his family to prevent proclamation of the same, said police.
He has been accused in 24 cases across Uttar Pradesh and Delhi. Three of them came under Economic Offences Wing of Delhi Police, which mainly pertains to serious frauds like in banks, Public Limited Companies and narcotics.
According to police, inputs were received by Crime Branch regarding the movements of Chaudhary in Saharanpur, UP, Yamuna Nagar, Chandigarh and Jagadhri. On Sunday he was apprehended in State Highway 3 near Sadaura, Haryana.
Satish Chaudhary was evading arrested for the past eight years. He and his partners forged documents of several industrial plots and factories which were under dispute. But his documents showed that the properties were ready for sale.
He would target disputed large factories, which had defaulted in loan payments and were on the verge of being sold off by court appointed liquidators.
He changed his partners with every new transaction and made them look like other purchasers from Debt Recovery Tribunal (DRT), which settles cases on plots which are not paid for by the loan takers.
He took these buyers to the actual sites, to make them feel secure about their investment. "Even if he found any caretaker, he would bribe or somehow managed to do the inspection," said police.
Many people agreed to purchase the properties from him, which were sometimes only on paper or impunged properties. They used to pay him the token money or advance and before the deal could be finalised the documents were proven to be forged, said police.
He kept a low profile and deliberately did not own any property himself but invested in the names of his family to prevent proclamation of the same, said police.
He has been accused in 24 cases across Uttar Pradesh and Delhi. Three of them came under Economic Offences Wing of Delhi Police, which mainly pertains to serious frauds like in banks, Public Limited Companies and narcotics.
According to police, inputs were received by Crime Branch regarding the movements of Chaudhary in Saharanpur, UP, Yamuna Nagar, Chandigarh and Jagadhri. On Sunday he was apprehended in State Highway 3 near Sadaura, Haryana.
A 56-year-old man who duped several people by making them invest in disputed plots and minted money in crores, was arrested by the police said on Thursday.Satish Chaudhary was evading arrested for the past eight years. He and his partners forged documents of several industrial plots and factories which were under dispute. But his documents showed that the properties were ready for sale.
He would target disputed large factories, which had defaulted in loan payments and were on the verge of being sold off by court appointed liquidators.
He changed his partners with every new transaction and made them look like other purchasers from Debt Recovery Tribunal (DRT), which settles cases on plots which are not paid for by the loan takers.
He took these buyers to the actual sites, to make them feel secure about their investment. "Even if he found any caretaker, he would bribe or somehow managed to do the inspection,” said police.
Many people agreed to purchase the properties from him, which were sometimes only on paper or impunged properties. They used to pay him the token money or advance and before the deal could be finalised the documents were proven to be forged, said police.
He kept a low profile and deliberately did not own any property himself but invested in the names of his family to prevent proclamation of the same, said police.
He has been accused in 24 cases across Uttar Pradesh and Delhi. Three of them came under Economic Offences Wing of Delhi Police, which mainly pertains to serious frauds like in banks, Public Limited Companies and narcotics.
According to police, inputs were received by Crime Branch regarding the movements of Chaudhary in Saharanpur, UP, Yamuna Nagar, Chandigarh and Jagadhri. On Sunday he was apprehended in State Highway 3 near Sadaura, Haryana.