A major real estate fraud case involving alleged cheating of ₹17 crore has surfaced in Haryana’s Gurugram, where the Economic Offences Wing (EOW) has arrested a man accused of duping investors on the pretext of selling land in Palwal district. Investigators claim the accused and his associates prepared fake sale agreements, collected crores of rupees from the complainant, and later failed to execute the land registry before allegedly disappearing.
According to officials, the accused, identified as Mahesh Mugam, was arrested on May 9 from Sector-75 in Noida by the Economic Offences Wing-1 team. Police said the accused is a resident of Gautam Buddh Nagar and operates a company named “Neon Infra Construction Solution.” Investigators suspect that the accused, along with several associates, had created a planned real estate fraud network targeting investors with promises of lucrative land deals.
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11.33‑Acre Palwal Plot, Fake Agreement, and ₹17 Crore Deposit
Police sources said the complainant was approached with an offer to purchase nearly 11.33 acres of land located in Ghughra village of Palwal district in Haryana. The accused allegedly claimed that the property was legally clear and assured the complainant that the registration process would be completed within the agreed timeline.
As part of the transaction, an “Agreement to Sell” was allegedly executed on August 1, 2024. Investigators said the complainant subsequently transferred around ₹17 crore in multiple transactions towards the land price and associated expenses. The money was reportedly deposited into bank accounts linked to the accused’s company, Neon Infra Construction Solution.
However, despite repeated assurances, the registry of the land was never completed. According to the complaint, the accused continued to delay the process by giving various excuses and misleading explanations. Police claim that after receiving the money, the accused and his associates eventually stopped responding to calls and messages, raising suspicion of deliberate fraud.
FIR, EOW Takeover, and Forged‑Document Probe
The complainant later approached police officials on January 20, following which an FIR was registered at Sector-40 police station under sections related to cheating and criminal conspiracy. As the financial magnitude of the case became clear, the investigation was transferred to the Economic Offences Wing for further probe.
Investigators said preliminary findings indicate multiple discrepancies in the documents shown during the alleged land transaction. Authorities are now examining whether the ownership papers, agreements, and other records used to convince the complainant were genuine or manipulated. Police are also verifying whether the land in question was already under dispute, encumbered, or linked to prior financial liabilities.
Officials said forensic examination of banking records, company documents, digital communication, and transaction trails is currently underway. Investigators suspect that additional individuals may have been involved in preparing forged agreements, coordinating fund transfers, and creating a false impression of legitimacy around the proposed land deal.
Links to Other Deals and More Arrests Expected
According to police sources, questioning of the accused has also revealed details about several other suspicious property-related transactions and investment deals. Authorities are now identifying individuals and entities that may be connected to the alleged real estate fraud network. Investigators are also examining whether funds collected from investors were diverted across multiple companies and bank accounts in an attempt to conceal the money trail.
Officials said the accused will be produced before a court for custodial remand so that investigators can further examine the forged documents, financial transactions, and use of the allegedly cheated funds. Police also indicated that more arrests could follow as the investigation progresses and additional evidence is analyzed.
Renowned cybercrime expert and former IPS officer Prof. Triveni Singh said organized financial frauds linked to real estate and investment schemes are rapidly increasing across the country. “Fraudsters often use forged agreements, fake ownership records, shell companies, and layered banking transactions to gain the trust of investors. In many cases, victims transfer huge amounts after being shown seemingly authentic documents. Independent verification of land records, legal due diligence, and scrutiny of financial transactions are essential before entering into high-value property deals,” he said.
