LUCKNOW, June 7 -- The Economic Offences Wing (EOW) of Uttar Pradesh Police arrested Mahipal Singh, a director of Karmabhoomi Real Estate Company Limited, in connection with an alleged investment fraud of around Rs.100 crore that affected hundreds of investors across several districts of the state, according to an official statement issued on Saturday. Officials said Mahipal Singh, 50, a resident of Chhatikara in Mathura district, was arrested by the EOW's Kanpur Sector team from Mathura on Saturday as part of a special drive against wanted economic offenders. According to the EOW, he was wanted in an investigation linked to a case registered under charges of criminal breach of trust, forgery, use of forged documents and criminal conspiracy. Investigators alleged that the real estate company, registered with the Registrar of Companies in Kanpur, operated branches in several districts, including Mathura, Kanpur, Bijnor, Moradabad, Shahjahanpur and Lakhimpur Kheri. Between 2011 and 2015, the company allegedly collected nearly Rs.100 crore from investors by promising to double their money within a short period and offering plots and flats at concessional rates. However, investors neither received the promised properties nor got their money back. Mahipal Singh and five other directors allegedly conspired to misappropriate the funds before shutting down the company's offices and absconding, officials said, citing the investigation. Following an inquiry ordered by the Uttar Pradesh government, the EOW registered a case against the six directors. During the investigation, officials found that Mahipal Singh and the other accused allegedly cheated investors through fraudulent means and siphoned off the funds for unlawful gain. The EOW said legal proceedings against the arrested accused are underway, while efforts to trace and arrest the remaining five co-accused are continuing....