A Chartered accountant who duped over 5,000 investors of Rs 40 crore was arrested in Mumbai on Monday Devender Kumar Aggarwal capitalised on the property boom by luring investors into fake pre-1aunch schemes for affordable houses.
"He charged innocent investors Rs 50,000 to Rs 7 lakh on the pretext of providing them homes. He never had the land nor any infrastructure to back his claims," said Alok Kumar Verma, Joint Commissioner of Police (crime).
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