Real Estate Scam Uncovered: Man Arrested for Fraudulent Property Sales

The Economic Offences Wing of Delhi Police arrested Moshin Mohammed for allegedly cheating homebuyers by selling a mortgaged property. Mohammed reportedly sold flats without disclosing an existing mortgage, amassing Rs 13 crore fraudulently, and is linked to several fraud cases and misuse of company funds.

The Economic Offences Wing (EOW) of the Delhi Police has apprehended a 36-year-old man named Moshin Mohammed, who is suspected of deceiving homebuyers by fraudulently selling a property already mortgaged to a private bank.

According to officials, Mohammed was involved in selling numerous flats on mortgaged land in Daryaganj, collecting Rs 13 crore from unaware buyers between March 2018 and May 2019. He also allegedly siphoned off Rs 3.33 crore by withdrawing from a cooperative bank account for his own needs.

Further investigations revealed that Mohammed, a director of M.K. Overseas Pvt. Ltd., had facilitated loans worth Rs 300 crore, using various properties as collateral. The company, now under liquidation, originally mortgaged the disputed property for a Rs 95 crore loan in 2016. Authorities have linked Mohammed to multiple fraud cases and continue their investigation.

(With inputs from agencies.)