Wave Group VC arrested in 100 cr fraud case
New Delhi: Manpreet Singh Chadha, the Vice Chairman of the Wave Group, has been arrested in connection to a Rs 100 crore fraud case, a police officer said here on Thursday.
The Economic Offences Wing (EOW) of the Delhi Police arrested Chadha on Wednesday at the national capital’s Indira Gandhi International Airport while trying to escape to Thailand, Additional Commissioner of the EOW, Suvashish Chaudhary told IANS.
Before his arrest, the airport’s security staff and immigration officers were alerted and Look a Out Circular (LOC) was issued against Chadha.
EOW had registered a case against Chadha in connection with the case including other promoters of Wave Group, Chaudhary said, adding that it was stated in the FIR that the group duped buyers of over Rs 100 crore and made wrongful gains to the company on the name of promising a Hi-Tech township project at NH-24.