BUYERS AND DEVELOPER BEEN CHEATED OF SEVERAL CRORES AT MUMBAI

(Bangalore property, 2 bhk apartments, flats, lands,studio for sale in Bangalore)

A group of swindlers, had been cheating several unsuspecting buyers and a Developer at Thane for the last seven months. This group is headed by one Mukesh Sawla.

The scam came to light when the buyers who had been sold the houses, approached the Kapurbawadi Police.The reputed developer had been duped over Rs.15 crore by this group which sold flats to multiple buyers at half the price and even issued allotment letters.

Investigators and developers believe the amount may be a lot higher considering only a handful of buyers have come forward. The police explained that the group of con men made inroads into Soham Group, which has developed over two dozen premium properties in Thane in the last three decades, and sold houses in their under-construction projects to multiple buyers. The group roped in Soodesh More, Sales Manager of Soham Group, to dupe the buyers and the developer.

They would promise properties in Soham Group's projects at half the price. The customers were taken to the site and after the payment was made, they were issued allotment letters. Little did the buyers know that the same flat had been sold to others as well.Multiple allotment letters for the same flat were issued by More. The buyers were asked to issue cheques in the name of CR Investments, a company formed by the scamsters.

"A property worth Rs.5,000 per sq feet was sold for around Rs.3,000. In order not to raise an alarm, the scamsters would issue cheques to us (Soham Group) in the name of one of the buyers. They paid the actual value of the flat. Hence, if a flat was sold to two or more buyers the scamsters would still make a decent profit from the forged sales," said Jitendra Mehta, a Senior Manager of Soham Group, who filed an FIR at the police station. This went on for over seven months.

Investigators point out that since More was an insider, no one suspected a thing. Even if buyers came to the site to ask about their flats More would handle them and made sure they never reached the bosses at Soham.

The scam came to light when several buyers approached the cops and the bosses at Soham Group. "We realized that in order to avoid being caught, the scamsters even got some of the flats registered. However, they messed up while tampering with one registration document, which is how we managed to catch them," said MI Patil, the sub inspector investigating the case. Police have identified four members of the group, of which one Chandulal Patani has been arrested. Soodesh More and Mukesh Sawla are absconding.

At the time of going to press, the developers had found that around 30 buyers had been sold 12 houses in different projects. With more buyers coming forward, the scam may well cross Rs.50 crore. "We are deeply disturbed by what has happened. But we will ensure that the interest of genuine buyers is protected," said Mehta.

More,

http://bangalore5.com

http://bangalore5.com/register.php