Greater Noida Property Scheme Scandal: Developer Arrested for Fraud

Harinder Bashista, a real estate developer, was arrested for defrauding investors of Rs 30 crore in a fraudulent property scheme in Greater Noida. The project, launched in 2009, promised various amenities but was found to be a scam, with multiple buyers sold the same units.

A real estate fraud has surfaced involving Harinder Bashista, a developer who allegedly swindled investors for Rs 30 crore. Accusations against the director of a private estate development company led to his arrest, beginning with a complaint on May 24, 2022. An FIR was registered on June 3, 2022, following numerous allegations of deceit.

The project in question, which began in 2009, promised to offer office spaces, residential units, and a commercial mall in Greater Noida's Knowledge Park-III. However, instead of delivering on these promises, Bashista and his team are accused of using fake documents to secure investments and promised enticing returns that never materialized.

Victims, including Sunil Gupta, believed they were purchasing legitimate properties. Investigations found the company had no authority to sell the units, and many were double-sold, significantly increasing investor losses. Despite assured possession timelines, all promises remained unfulfilled, and the project is incomplete with 75 complaints lodged against the firm.

(With inputs from agencies.)