A couple in Greater Noida has been arrested for a sophisticated real estate fraud, accused of repeatedly selling the same mortgaged flat and swindling victims out of millions.
Key Points
- Naresh Kumar Sikri and Sharda Sikri were arrested for allegedly selling the same flat multiple times in a real estate fraud.
- The couple allegedly collected Rs 2-2.5 crore from victims by fraudulently selling a property already mortgaged to a bank.
- Sharda Sikri was previously declared a Proclaimed Offender after absconding from earlier cheating cases.
- Police investigation revealed Naresh Sikri, a loan agent, is suspected to be the mastermind behind the property fraud scheme.
- The couple was traced to a hideout in Greater Noida and arrested after evading arrest for previous fraud cases.
A 57-year-old man and his wife have been apprehended from Greater Noida for allegedly cheating several people by selling the same flat multiple times, police said on Friday.
The accused have been identified as Naresh Kumar Sikri and his wife Sharda Sikri (55), residents of Dwarka Sector-9, they said.
During investigation, it emerged that the couple had allegedly cheated multiple persons by executing sale agreements for the same property, which had already been mortgaged to a bank.
The police said the accused allegedly collected around Rs 2-2.5 crore from various persons through fraudulent means.
Sharda had earlier been declared a Proclaimed Offender by a local court here in September 2025 after she remained absconding for a prolonged period, they said.
According to police, two cases of cheating were registered against the couple in 2024 after complainants alleged that Sharda Sikri executed agreements to sell in respect of her flat and took substantial amounts of money but failed to complete the sale. The accused subsequently fled.
Two cases on January 6, 2024 and July 14, 2024 under relevant sections of the IPC were registered at Dwarka South police station and investigation was taken up.
"Despite sustained efforts, the couple managed to evade arrest. The anticipatory bail application of Sharda Sikri was dismissed by the trial court and later withdrawn before the Delhi High Court," a senior police officer said.
Arrest and Investigation
Acting on secret information and technical surveillance, the team traced the couple to a hideout in Greater Noida and arrested them. During interrogation, they allegedly confessed to the crime and disclosed that they had mortgaged the flat and devised the scheme to raise money to settle bank dues.
Naresh Sikri, who works as a loan agent, is suspected to be the mastermind of the fraud, police said, adding that the flat was in his wife's name.
Both accused have been produced before a court and sent to judicial custody, police said. Further investigation is underway to ascertain the involvement of the couple in other similar cases.
© 2026