New Delhi, Jan 9 : Delhi Police's Economic Offences Wing (EOW) has arrested a 38-year-old man for allegedly duping over 40 people on pretext of providing flats and misappropriating funds of more than Rs five crores, an official said on Tuesday. The accused was identified as Pradeep Sehrawat, a resident of sector-23 Dwarka , was also found involved six other cheating cases with similar modus operandi. The arrest came after a case was registered on the complaint of Vaibhav Kumar Singh and others at EOW police station. "The complaints were received in EOW from Dwarka district and these complaints were related to DDA's Land Pooling Policy fraud. The complainants alleged that they were induced by office bearers of Kamp Developers Pvt. Ltd. to purchase flat in the project 'The Crystal Residency' and 'Eden Height' in L-Zone, Dwarka, which was to be built in 10 acres of land at Dwarka," said the official. The MoU between Kamp Developers Pvt Ltd and complainants were signed by alleged Sehrawat. "All the complainants were assured to get their flats in 2019 and complainants had also an option to get the entire amount back with an annual interest of nine per cent compounded annually after three years from the date of signing the MoU," said the Deputy Commissioner of Police (EOW) Surendra Choudhary. During the probe, 30 more complaints were received and all the complaints were clubbed with investigation of the said case. "It is submitted that the concept of Land Pooling Policy (LPP) was conceived by the government in the year 2013 that under the Land Pooling Policy (Policy of LPP), DDA will pool the land parcels owned by individuals, a group of owners or a builder, then develop the land and will return it to the owners," said the DCP. The concept is about developing urban land parcels available in the city, especially in the outskirts, in an efficient, sustainable and equitable manner. "The policy was notified in 2018 but the miscreants found it an opportunity and started exploiting this proposal/plan of Govt since 2018. During investigation, it was revealed that DDA had not given any license/approval to alleged Kamp Developers Pvt Ltd," said the DCP. The alleged company had not submitted any land in the DDA under Land Pooling policy. The said project was also not registered with RERA. "After obtaining sufficient evidence against the accused Sehrawat, he was arrested in the present case on January 5," said the DCP. /IANS