Director Arrested for Multi-Crore Housing Project Fraud

Yogesh Sharma, director of Big Bull Infrastructure Pvt Ltd, was arrested for allegedly defrauding over 30 investors of Rs 2.3 crore through a bogus housing project in Rajasthan. Charged with cheating and fraud, Sharma had evaded law enforcement for over a year after being declared a proclaimed offender.

The Delhi Police have apprehended Yogesh Sharma, a 38-year-old director of Big Bull Infrastructure Pvt Ltd, accused of defrauding over 30 investors of approximately Rs 2.3 crore. Sharma allegedly lured investors into a pre-launch housing project, promising lucrative returns on plots situated on the Jaipur-Delhi highway.

Police reports indicate that Sharma failed to secure the Jaiour Development Authority's approval for the project and did not initiate any construction work. Instead, he closed the office and fled, selling parts of the purchased land to third parties. Misleading brochures and pamphlets were circulated to further entice investors.

Multiple FIRs have been issued against Sharma across various regions for charges of cheating, forgery, and criminal breach of trust. Police continue to investigate to identify additional victims and track the defrauded funds.

(With inputs from agencies.)