Economic Offence Wing
Economic Offence Wing is also widely known as EOW in abbreviated form.
Economic Offences Wing started functioning as a part of Crime Branch since 1994 from Qutub Institutional Area / PTS Malviya Nagar. Since 2012, EOW has started functioning from PS Mandir Marg Complex in a new building with state of the art facilities.
Need of EOW
The need for creating an independent EOW Unit arose because of the sudden spurt in white collar crimes perpetrated by highly committed criminals involving interstate/international ramifications. Involvement of skilled professionals and organized racketeers and the use of advanced technologies in committing white collar crimes required similar degree of skill and professionalism among investigators.
What is Economic Offence?
Economic Offence covers diversified range of offences starting from frauds, tax evasion, financial crimes committed by banks, money laundering, illicit capital heavens, crimes related to securities, chit funds, bribery by public officials, traffic of influence, cheating, embezzlement, etc.
A divested or considerable social and economic damaged can be caused by these economic crimes.
That is because the possibility of it affecting state treasurer and public at large apart from domestic entities and institutions is high. And the matter of fact is that this damage is not calculated damage, and no one can tell how many people were affected by most of the occurred crimes.
Following functions are performed by Economic Offence Wing:
- Economic offences wing is a specialized Unit of the Police that exclusively investigates economic crimes involving large scale frauds invoking huge money with wide ramifications.
- The Economic Offences Wing takes up cases which deal with cases pertaining to:
- Financial and economic frauds,
- Land and building rackets,
- Multi-Level marketing fraud,
- Bank frauds,
- Intellectual property rights and other kinds of economic offences.
Investigation is carried out in complicated and intricate IPC/BNS offences, and other offences under various Central Acts. Investigation usually involves collection and scrutiny of voluminous documents from various agencies including banks, Central/State Government departments and private companies. Economic Offences Wing maintains close liaison with various government, semi government departments, Ministries of Finance, Commerce, Corporate Affairs, etc, RBI, FIU, CEIB, SEBI and other regulating institutions.
JURISDICTION:
The Economic Offences Wing takes up the cases involving an amount not less than Rs. 3 crore or multiple victims frauded by person/company.
Famous cases handled by EOW
- The Economic Offences Wing (EOW) of Delhi Police has arrested a man for allegedly cheating and misappropriating crores of rupees of public on the pretext helping them earn huge profit in share market.
Accused identified as Amit Anandilal Tahnvi (42), a resident of Jodhpur in Rajasthan, used to work as an operator in share market in Jodhpur and got involved in fraudulent practice.
- Delhi Police EOW files case against SpiceJet MD, others over PF dues The FIR, lodged on September 16’ 2024, named individuals, including Ajay Singh, Shiwani Singh (director), Anurag Bhargava (independent director), Ajay Chhotelal Aggarwal and Manoj Kumar. According to the FIR, SpiceJet employs more than 10,000 workers and deducted 12% of employees' salaries for PF from June 2022 to July 2024. However, the deducted amount was not credited to the employees' PF accounts within the mandatory 15-day period. "This is in violation of the EPF scheme 1952," it said.
- The economic offences wing of Delhi Police has arrested a man for cheating a bank of Rs 5.5 crore
Kumar, in connivance with other accused, used to create forged property documents to be mortgaged for availing loans from banks, the police said. The accused has been identified as Suresh Kumar, a resident Nand Nagri. He is involved in at least 17 criminal cases that are being investigated by different agencies. Joint commissioner of police (EOW) Chhaya Sharma received a complaint from a woman that she had purchased the first and and second floors with roof rights of a freehold property in Paschim Vihar through a sale deed dated July 20, 2008 from one of the accused.
- Delhi Lt Governor gives nod to prosecute 10 cops in Rs 2.4 crore fraud case
An FIR was registered by the Economic Offences Wing (EOW) of Delhi Police against two women sub-inspectors, three head constables and five constables – posted in Outer District - on charges of cheating, criminal conspiracy and criminal breach of trust on October 1, 2019Two women sub-inspectors of the Delhi Police, three head constables, and five constables were charged with cheating, criminal conspiracy, and criminal breach of trust.
- FAKE JOB RACKET BUSTED BY EOW
FAKE JOB RACKET BUSTED; LADY KINGPIN ARRESTED FROM ZIRAKPUR • VICTIMS FROM NEPAL AND ALL OVER INDIA IN NEED OF JOBS, WERE SWINDLED OF CRORES OF RUPEES • ACCUSED CHEATED THEM BY PROMISING THEM JOBS IN CANADA • ACCUSED KEPT CHANGING OFFICES FROM BATHINDA TO DELHI TO CHANDIGARH, TO EVADE THE EARLIER VICTIMS
The Economic Offences Wing (EOW) received a joint complaint from 23 victims from all over India including Delhi, Rajasthan, Uttar Pradesh, Punjab, Haryana, Tamil Nadu, followed by another joint complaint from 29 Nepali victims, alleging fraudulent activities orchestrated by a woman identified as Deepika (name altered) and her associates. They were accused of deceiving individuals on the pretext of securing jobs in Canada through social media platforms, resulting in a collective loss of approximately Rs. 4-5 Crore. Subsequently, FIR No. 11/24 under section 420/120(B) IPC was registered at PS EOW, New Delhi in March, 2024, and an ongoing investigation was initiated.
- The Economic Offences Wing (EOW) of the Delhi Police has arrested a property dealer for alleged cheating in connection with a Rs 31-crore south Delhi property deal scam, an official said on Monday. Accused Ravinder Bainsla, through his company Bainsla Housing Private Limited, allegedly misrepresented himself as the representative of property owner Ashok Kumar, Additional Commissioner of Police (EOW) Amrutha Guguloth said in a statement. Bainsla offered to sell a plot in Delhi’s Samalkha for Rs 31 crore to the complainant, promising to resolve legal disputes and provide vacant possession. The complainant paid Rs 3.7 crore for the deal between December 2021 and February 2022. However, Bainsla failed to deliver on his promises and did not comply with a subsequent settlement agreement, the statement said.
- Delhi police books 81 officials and staff of Rohini jail on corruption charge
Investigations revealed that Chandrashekhar distributed a Rs 1.5 crore bribe to the jail staff every month for getting facilities to use mobile phones and a separate barrack without any hindrance. The Economic Offences Wing (EOW) of the Delhi police has registered a case against 81 officials and staff members of the Rohini jail in north-west Delhi on corruption charges. The case was registered for taking bribe from conman Sukesh Chandrashekhar. The development comes after eight jail officials were arrested earlier for allegedly helping the jailed conman. The cops booked Rohini jail staff after investigations revealed that Chandrashekhar distributed Rs 1.5 crore bribe to the jail staff every month for getting facilities to use mobile phones and a separate barrack without any hindrance. “Sukesh was paying Rs 1.5 crore every month for getting facilities to use mobile phones and a separate barrack without any hindrance. Based on documents, facts and evidence collected during the probe, it came to the fore that the money was paid to all staff, irrespective of their duties, as bribe to ensure they remain silent,” said the FIR.
