A major fraud case involving Rs 500 to Rs 1,000 crore has surfaced in Gurugram. Police have arrested Dhruvdutt Sharma, director of 32 Milestone Avenue, in connection with the case.
He allegedly cheated hundreds of investors by promising assured rental returns. The Economic Offences Wing (EOW) produced him in court, which sent him to six days of police remand.
Police said preliminary investigations revealed that Dhruvdutt Sharma lured people with promises of high returns and convinced them to invest large sums. However, no returns were paid, and crores of rupees were siphoned off.
The accused allegedly used the cheated money to build luxury villas along the beaches of Goa and to invest in properties in Neemrana, Rajasthan. He is said to have trapped people by showing them dreams of guaranteed income through rental schemes.
Officials said the fraud was not limited to one or two deals but ran into ₹500 to ₹1,000 crore. ACP Vishal said that two months ago, victims approached the Police Commissioner’s open court with complaints involving fraud of several crores.
Following this, Police Commissioner Vikas Arora handed over the probe to the EOW. A case was registered against Dhruvdutt Sharma and others, leading to his arrest and the exposure of the multi-crore fraud.
Police said more than five cases have so far been registered against the accused. Statements of around 40 to 50 victims have been recorded. EOW officials said the total number of victims could be between 500 and 1,000, with each person cheated of Rs 1 crore to Rs 2.5 crore. This puts the total fraud amount between ₹500 crore and ₹1,000 crore. The accused allegedly kept giving repeated assurances to the investors.
Crores of rupees obtained through the fraud were allegedly used to build luxurious villas on the Goa coast. ACP Vishal said that during questioning, Dhruvdutt Sharma admitted to using investors’ money to construct luxury villas in Goa and to invest in properties in Neemrana, Rajasthan, through similar schemes.
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