Builder held for duping NRI of Rs 14 cr

NEW DELHI: A builder was arrested by the economic offences wing (EOW) for defrauding several NRIs of over Rs 14 crore। The accused, Naresh Chandra, had reportedly started a charitable trust called Human Care Medical Charitable Trust, and lured NRI doctors to invest money into the trust.

"He had got the trust registered with the Registrar of Societies and showed in the papers that the trust had acquired land in Dwarka to construct a charitable hospital," said Prabhakar, deputy commissioner of police (EOW)।

He convinced a handful of doctors settled abroad to invest in the trust and managed to collect a sum of Rs 14 crore constructing a hospital। But after giving the money, investors found that the building was coming up slowly and that the quality of construction was not up to the mark. After confronting the accused, one of the doctors filed the complaint.

Investigations found that the builder was using inferior quality material and showed inflated bills. He was transferring the balance amount into his own company, M/s Nidhi builders (I) Pvt Ltd. He was arrested on April 6 and is now in judicial custody.