The luxury home that didn’t exist: Delhi Police bust property racket, 5 held for Rs 12 cr fraud

The Delhi Police have arrested five people for allegedly duping a person of Rs 12 crore by selling a non-existent luxury property at DLF Camellias in Gurugram, officials confirmed on Sunday (December 28).

Forged bank auctions and fake luxury deals

According to the police, the arrests have unearthed an organised property fraud racket that relied on forged bank auction documents to cheat unsuspecting buyers.

A statement was issued by the law-keeping officials that said the Crime Branch dismantled the racket following the registration of a first-information report under various provisions, including cheating, forgery, and criminal conspiracy, as outlined in the Bharatiya Nyaya Sanhita.

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"The syndicate is suspected to have cheated victims of more than Rs 200 crore across several states by using a similar modus operandi involving forged sale certificates, fake auction documents and claims of immediate possession of premium properties, including those auctioned by banks," the statement quoted Deputy Commissioner of Police (Crime Branch) Aditya Gautam as saying.

Mastermind, associates identified

Those arrested include alleged mastermind Mohit Gogia and four of his associates, the police revealed. They added that efforts were underway to nab other conspirators, including Ram Singh alias 'Babaji'.

As per the statement, the case surfaced after a complaint was received on June 13 this year, accusing MG Leasing & Finance, its proprietor Mohit Gogia and his associates of cheating and forgery.

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According to the complainant, forged documents were shown for a luxury property at DLF Camellias, with claims that the firm had purchased it in a bank auction and could legally transfer ownership.

'Complainant transferred Rs 12 cr'

"The complainant transferred Rs 12.04 crore to the accused between August and October 2024 through RTGS and demand drafts. However, the bank later confirmed that all documents, including sale certificates and auction receipts, were forged," the police statement said.

Investigators found that the entire amount was credited to the bank account of the accused proprietorship firm.

Probe revealed that the entire amount was credited to a bank account in the name of the accused proprietorship firm, the officials confirmed.

Money circulated through bank accounts

Further analysis revealed that the money was circulated through multiple bank accounts and entities to conceal its origin, they added.

Police teams conducted searches across Delhi-NCR, Bhopal and Mumbai, but Gogia initially remained absconding. He was eventually tracked while trying to move from Mumbai to Uttarakhand.

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"Based on technical surveillance and manual intelligence, he was ultimately traced while attempting to flee from Mumbai to Uttarakhand," the statement said.

On November 22, Gogia was apprehended by officials near Doiwala on the Rishikesh-Dehradun Road in Uttarakhand.

More arrests after Gogia was nabbed

During interrogation, the police established Gogia’s role in forging documents, duping the complainant and distributing the defrauded money through a network of accounts.

"Gogia also disclosed the involvement of several associates, including Abhinav Pathak, Bharat Chhabra, Vishal Malhotra, Sachin Gulati and Ram Singh alias Babaji, who are key handlers in the circulation and laundering of fraudulent funds," the statement said.

Following this, four more accused were arrested. Police arrested Malhotra, a property dealer, who allegedly opened a private bank current account on Babaji’s instructions. He routed part of the cheated money and withdrew large cash sums for commission.

Another accused, Gulati, allegedly allowed his bank account to be used for routing funds and admitted to making withdrawals and transfers on Babaji’s instructions. Police said he has a previous criminal case against him in Delhi.

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Police also arrested Pathak, a medicine distributor, who allegedly introduced the complainant to the main accused and facilitated the deal, and received a share of the cheated amount.

In addition, Chhabra, another accused, was also nabbed for allegedly assisting in preparing forged documents used to dupe victims, the police added.

Two cars recovered

The statement also revealed the recovery of two cars allegedly bought using the cheated money and used as pilot and escort vehicles by Babaji.

"A lien has also been put on the linked bank accounts of the accused and other suspected accounts," DCP Gautam said.

How victims were lured

Investigators said the accused lured victims with premium properties offered at unusually low prices, claiming they were bank-auctioned assets with immediate possession.

Victims were shown forged mortgage papers, fake sale certificates, bogus allotment letters and fabricated registration drafts to convince them to transfer large sums.

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"The cheated funds were layered through numerous bank accounts, firms and people to conceal the money trail. The accused earned commissions for providing accounts and facilitating withdrawals, while the main handler retained the largest share," the statement said.

The 38-year-old Gogia, a resident of East Patel Nagar in Delhi, allegedly played a central role in identifying disputed or bogus properties, preparing fake title documents, convincing victims and collecting money. Police said he retained 40 per cent of the profits, while Babaji kept 60 per cent.

Gogia is wanted or accused in at least 16 cases across Delhi, Punjab, Madhya Pradesh, Goa and Chandigarh, involving cheating, forgery and criminal conspiracy.

'Syndicate spread nationwide'

"The syndicate has a nationwide footprint. Several accounts, firms and recipients of the cheated money were identified, and further investigation is underway to trace additional beneficiaries and victims," the DCP said.

Police said efforts are continuing to arrest the remaining accused, including Babaji, recover the cheated funds and identify more victims of the racket.

(With agency inputs)