A major case of financial fraud has come to light at the city’s prestigious Water Sports Complex, where an accused allegedly cheated investors of ₹1.48 crore in the name of setting up a food court. The Ramgarh Tal police have arrested the prime accused, Vibhanshu Vaibhav Mishra, who allegedly lured investors by presenting forged agreements of reputed food brands.
According to police officials, the accused is a native of Parsudih, Tatanagar (Jharkhand) and was residing in Sector-16, Noida at the time of the offence. He posed as a representative of a reputed hospitality firm and convinced investors to part with a huge sum of money.
Deal Signed for Food Court Development
As per the complaint, M/s Adeep Leisure Private Limited had taken the Water Sports Complex on lease to develop recreational facilities, including a food court. In this connection, an agreement was signed on October 13, 2024, with M/s VVM 21 Hospitality OPC Private Limited, owned by Vibhanshu Mishra.
Under the agreement, Mishra was supposed to bring well-known food brands and start the food court operations. Trusting his claims and documents, the company transferred ₹1.48 crore via RTGS as part of the deal.
Fake Brand Tie-Ups and Forged Documents
During negotiations, the accused showed agreements and letters of intent from several reputed brands, including:
- Nazir Foods
- Baskin Robbins
- House of Candy
- Rolls Singh
- The Belgian Waffle Company
- Flavours of Lucknow
- Chai Ka
- NS Foods
However, when the company later contacted these brands directly, it was revealed that none of them had any agreement with the accused. The owner of ‘Chai Ka’ even confirmed that his signature had been forged on the documents.
This revelation exposed the entire fraud.
Delays, False Assurances and Disappearance
When work failed to begin despite repeated reminders, the complainant confronted the accused. On August 13, 2025, Mishra issued a cheque of ₹44.04 lakh, which bounced upon presentation.
Later, he took an additional ₹10 lakh in cash from the complainant and soon after switched off his mobile phone and went absconding.
Police Action and Arrest
The matter was reported to SP City Abhinav Tyagi, following which an investigation was initiated by Ramgarh Tal Police Station. Based on technical surveillance, bank transaction analysis and documentary evidence, the accused was traced and arrested.
CO Yogendra Singh confirmed that the accused was produced before the court and has been sent to judicial custody. Further investigation is underway to ascertain whether more people were cheated using a similar modus operandi.
Multiple Charges Registered
Police have registered cases against the accused under sections related to:
- Cheating
- Criminal breach of trust
- Forgery
- Use of forged documents
Authorities are also scrutinising his bank accounts, mobile data and financial transactions to identify other possible victims.
Police Advisory to Public
Police officials have urged business owners and investors to remain cautious and take the following precautions:
- Verify all agreements through official channels
- Cross-check brand tie-ups directly with company headquarters
- Avoid transferring large sums without legal verification
- Immediately report suspicious activity to police
Officials stated that this arrest sends a strong message to fraudsters misusing fake corporate identities and forged documents.
