Bengaluru: Victims of realty conman Sachin Nayak plead for his arrest and justice

The families realised that they had been duped only by December 2015 as there was no progress on the projects

Published: 22nd April 2018 04:56 AM  |   Last Updated: 22nd April 2018 04:56 AM   |  A+A-

Depositors who lost their savings due to real estate scam by Dreamz Infra proprietor Sachin Nayak protest outside CID office in Bengaluru on Saturday | Pandarinath B

By Express News Service

BENGALURU: Nearly 500 victims out of 8,000-plus families who lost lakhs to purchase property offered by three fake realty companies of conman Sachin Nayak staged a massive silent protest outside the CID office on Saturday, demanding his arrest and refund of their money soon. While the public claim to have lost Rs1,110 crore, the CID billed it as a Rs 700-crore fraud.

Altogether, 488 individuals from across Karnataka, with a few even from Chennai, affiliated to the Ekadanta Association (one of a handful of organisations formed by the victims), gathered from 9.30 am to 12 noon on the footpaths lining the road outside the CID office to draw attention to their plight. While Dreamz Infra was set up in 2012, TCS Constructions Limited came up in 2013 and Gruha Kalyan in 2014. It was only by December 2015 that everyone who invested realised that they have been duped when no progress was made. The amounts lost ranged between Rs1 lakh and Rs 65 lakh. "All three companies promised flats and sites at less than the prevailing market value. A further discount on this reduced price was offered if one paid 50% of the property cost at one go," informed Association president B K Sharmila, who lost Rs18.5 lakh for a promised 2BHK flat.

His present and former wives (with no clear clarity on each one's present status) Mandeep Kaur, Disha Chaudhary and Muzumdur Sharthaparni, and Directors Jithendra Kumar Pradhan, Mapal Singh, Latheesh, Shal Kumar and Lokesh are all involved in the rackets. "Over 600 cases have been filed against them in the Consumer courts," Sharmila said. Following public uproar, the CID was asked by the government to take over the case in March 2017. Naik was jailed for two months but managed to get bail later. The CID moved the court over a month ago and got his bail cancelled. However, they claim that he is absconding and cannot be arrested. One of the protestors insisted that he spotted Naik at a Cafe Coffee Day outlet in Bengaluru recently and wondered how the CID was stating he was absconding. "He is very much in Bengaluru," seconded a few more.

Those who lost life's savings are desperate

Retired medical practitioner, 72-year-old Shivayogi Mandakki from Sagara taluk in Shivamogga, is a heartbroken man, and has come to Bengaluru to join the protest today. "I have spent nearly `61 lakh buying a house for me at Bannerghatta Road and my two sons who are also doctors." This senior citizen spent his life's savings on this scam. Cab driver at a Bengaluru call centre Sidappa Kolakar, whose son has a major health problem, is also devastated. "I handed over Rs 8.5 lakh for a site in Kengeri to Naik after selling my site in my native village. Just after that, we learnt that my older son needs a liver transplant. My wife donated half of her liver to him. I borrowed Rs 35 lakh from friends and family for the procedure. Now, I am totally broke financially. I really want my money back to support my family," he said in a choked voice.

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