A key accused who had been evading arrest for years in a multi-crore real estate investment fraud case has finally been apprehended by the Economic Offences Wing (EOW) of the Delhi Police. Investigators allege that he and his associates lured investors with promises of a large residential township project, collected substantial sums of money, and then failed to deliver the promised plots or complete the development. After years of avoiding law enforcement, the accused is now in police custody.
Proclaimed Offender Designations and Multi-Year Evasions
According to investigators, the accused, Shiv Nandan Singh Yadav, was arrested from Faridabad in Haryana. He had been wanted since 2019 in connection with nine separate criminal cases linked to the alleged fraud. Due to his repeated failure to appear before authorities and continued absconding, a court declared him a proclaimed offender in 2023.
The case originated from complaints filed by multiple investors who claimed they had been persuaded to invest in a large-scale housing project. The complainants alleged that they were promised a well-planned residential township equipped with modern infrastructure and facilities, along with the prospect of significant appreciation in property value. Trusting these assurances, many individuals invested their savings in the project.
During its investigation, the Economic Offences Wing found that despite being filed separately, the complaints reflected a similar pattern of alleged deception. Investigators concluded that the cases were connected to the same real estate company and a common group of individuals, prompting a consolidated and more extensive probe into the matter.
Township Advertising Claims and Deficient Land Holdings
Authorities said the company launched a housing project called “Krishan Kunj Township” in the Tilori Khadar area of Greater Faridabad in 2013. Through advertisements, promotional campaigns, and marketing efforts, potential buyers were told that a modern residential colony would be developed on the site. The project reportedly promised hundreds of residential plots across a planned township.
However, subsequent investigations uncovered what authorities described as serious irregularities. Investigators allege that several claims made to investors did not match the actual status of the project. They further found that the company allegedly lacked sufficient lawful land holdings and other necessary approvals required to develop the township as advertised. Despite these shortcomings, money continued to be collected from investors.
First Information Reports and Surveillance-Led Interceptions
Victims alleged that they paid substantial amounts toward plot bookings and related charges but never received possession of the promised plots. As deadlines passed and development work failed to materialise, the project gradually came to a standstill, leaving investors with significant financial losses.
Based on these complaints, multiple FIRs were registered following court directions. The Economic Offences Wing subsequently examined financial transactions, company records, and the role of the accused individuals. Investigators reportedly found indications that investors may have been misled through false representations and assurances in order to secure funds.
Officials said Yadav remained elusive for several years, frequently changing locations and avoiding legal proceedings. Law enforcement agencies conducted searches at multiple suspected hideouts, but he managed to stay out of reach. In recent months, however, intelligence inputs and technical surveillance helped investigators track his movements, ultimately leading to his arrest in Faridabad.
Capital Utilization Audits and Due Diligence Directives
Authorities believe the arrest could provide crucial leads regarding the broader conspiracy behind the alleged fraud. Investigators are now examining how the funds collected from investors were utilised, where the money was transferred, and whether additional individuals played a role in the scheme.
Experts say the case serves as a reminder of the risks associated with real estate investments that are based solely on promotional claims. They advise prospective buyers to verify land ownership records, regulatory approvals, project registrations, and the developer’s track record before investing. Failure to conduct due diligence, they warn, can expose investors to significant financial losses and prolonged legal disputes.
