The Economic Offences Wing (EOW) of the Delhi police arrested Manpreet Chadha, vice-chairman of Wave Group, at Delhi Airport in connection with a fraud case, reported News18 on Thursday.
Manpreet alias Monty allegedly cheated several by making fake promises of providing flats at cheaper rates.
According to The Hindu, Monty, son of late liquor baron Ponty Chadha, was trying to escape to Phuket after coming under the scanner for the fraud that amounts to about Rs 100 crore.
Additional Commissioner of Police (EOW) Suvashish Chaudhary told the paper that a lookout circular was issued against Monty a few months ago and other promoters of the group in Jan 2018.
According to the FIR registered against Manpreet and promoters of the group, the buyers were promised a hi-tech township project along NH 24 with facilities, including a metro train station and a helipad. However, these were never delivered.
Monty will be produced in court today.
First Published: Jun 13, 2019 10:11 AM IST
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