Noida: Two arrested from Sector 63 for fraud, probe on to nab others

NOIDA: The Noida police arrested two persons on Thursday from Sector 63 in connection with a case of fraud, officials said.

The suspects -- identified as Vishal Katiyar, 35, and Gaurav Sharma, 30 -- both residents of Raj Nagar Extension in Ghaziabad, worked at a Noida-based developer company, according to police.

Vivek Trivedi, station house officer (SHO), Phase 3 police station, said a developer filed a complaint on August 10, 2021, informing that some staffers of his company had embezzled nearly ₹12 crore.

The company director, Vipul Giri, said in the police complaint that his company has been developing residential projects in the National Capital Region (NCR) for the past 16 years.

“The company in Noida’s Sector 63 was developing a residential project in Raj Nagar Extension in Ghaziabad. We had a team in the sales department to collect money from the buyers. It issues letters for property registrations when buyers make payments. Recently, we conducted an audit and found that some company staffers had issued letters for property registration after forging the documents. They also collected nearly ₹12 crore and kept the money in their personal accounts. The staffers violated the standard operating procedure of the company,” Giri said, adding that when he filed the complaint with the police, the suspects resigned and fled.

A case was registered against the suspects under Indian Penal Code (IPC) sections 420 (cheating), 406 (criminal breach of trust), 467 (forgery) and 471 (using as genuine a forged document) at the Phase 3 police station, Trivedi added.

“The two former employees were arrested from the Noida Sector 63 area on Thursday. They were produced before a court and sent to judicial custody,” Trivedi said, adding that the police are conducting searches to arrest more people involved in the case.