New Delhi – In a staggering revelation of financial deceit, Delhi Police announced the arrest of Varun Puri, a 38-year-old builder involved in an extensive fraud case. Accused of cheating 485 home buyers in Gurugram’s burgeoning Sector-92 real estate market, Puri’s fraudulent dealings with his company, Universal Buildwell Private Limited, resulted in losses exceeding ₹300 crore. This arrest marks a significant development in the fight against real estate scams, promising justice to those affected.
Unveiling the ₹300 Crore Scam: How Buyers Were Deceived
Puri’s fraudulent practices came to light following a series of complaints lodged by buyers who had been awaiting possession of promised flats since 2010. Puri’s company, Universal Buildwell Private Limited, launched a high-profile housing project, Universal Aura, claiming to offer modern apartments in the prime locale of Sector-92, Gurugram. Hundreds of buyers, enticed by the strategic location and promises of luxury living, invested heavily in these properties. However, more than a decade later, they remain empty-handed, with only partial construction and no evidence of a fulfilled commitment.
The prolonged delay and lack of communication from Universal Buildwell pushed the buyers to take legal action. Despite repeated complaints, the builders remained elusive, leading to multiple complaints filed across various police jurisdictions in Delhi and the National Capital Region (NCR).
Who is Varun Puri? A Profile of the Man Behind the Scam
Varun Puri, along with his brother Vikram Puri and father Raman Puri, held executive positions in Universal Buildwell Private Limited. Puri and his family leveraged their influence and position in the real estate industry to attract unsuspecting home buyers. Promising high returns on investment and luxurious accommodations, they built a reputation of trust, only to systematically dismantle it through calculated deceit. Known among his associates as an aggressive businessman, Puri allegedly exploited regulatory loopholes to evade oversight, effectively concealing his trail for years.
A Fugitive No Longer: How Varun Puri Was Captured
The Delhi Police declared Varun Puri a fugitive, issuing a warrant for his arrest with a ₹1 lakh reward for information leading to his capture. Acting on intelligence reports and information from sources monitoring Puri’s potential hideouts, Delhi Police’s Special Cell apprehended him in Indore, Madhya Pradesh on October 25. His arrest represents a crucial step toward accountability, as he faces a series of charges in relation to economic offenses and fraudulent dealings.
The Legal Pursuit: Multiple Fraud Cases Registered
In addition to the arrest of Varun Puri, Delhi Police officials have registered five separate cases under the Economic Offenses Wing (EOW) against Puri and his associates. These cases highlight widespread malpractices within the company, including deceptive advertising, unauthorized fund transfers, and breach of trust. Multiple complaints were filed as buyers discovered they had been misled about Universal Aura’s progress and regulatory clearances. With the mounting complaints, EOW initiated thorough investigations, laying the groundwork for Puri’s eventual arrest and indictment.
