Fraud by N A Construction

PM Communications 12th Nov

Unlike many frauds in which victims hardly get back their money, the police believe that the chances of the victims recovering their lost money in NA Construction fraud are more. All transactions were conducted through cheques and the sinking company has properties in its name, which can be sold to pay the victims. The police have found that of the 2,200-odd victims of NA Construction, about 1,900 have got their money back, and only about 300 people are left now.

A police source said that the amount involved in the fraud was around Rs 7 crore, and primarily it seems that the company has properties which when sold off will help the victims recover their money. A police source said, "If the court seizes the properties of the company and fixes a system to give back the money, it is possible that every victim will get beck the amount lost."

However, the police source said that they will get to know more about the crime during the police remand of the accused. Of the 300-odd victims, only 88 have appeared before the police and about 210 victims are yet to approach the DCB. Assistant Commissioner of Police in crime branch MD Chaudhary has appealed to the victims to contact his office. These victims had paid Rs 2.61 lakh each in two instalments.

A police source said that they paid Rs 11,000 as the booking amount and Rs 2.50 lakh as the first instalment. The police sources said that each person had paid the amount through cheque. Sources said that every complainant has substantial proofs to prove that they had paid the money in two instalments. "The case seems strong against the accused and chances of they getting back the money are high," the police source said.

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