CHENNAI: The Entrustment Document Fraud (EDF) wing of the Central Crime Branch of Chennai police booked a real estate promoter for allegedly swindling crores of rupees from a buyer, after illegally selling the same property to another person.
While the complaint was lodged in 2017, a case was registered only a few months ago by the EDF wing under sections pertaining to criminal breach of trust, forgery, and cheating. The suspect, T Udhayakumar, is the Managing Director of Landmark. The group had started a project named ‘Vertica’, in Gopalapuram, which provides high-end premium apartments, about a decade ago.
“In 2013, when the complainant approached Udhayakumar, the latter promised to secure a home loan through his contacts in a private bank. After paying Rs 2 crore as advance booking and signing an agreement, the complainant received Rs 4 crore as the loan,” said a police officer.
While the victim was paying EMI, he was shocked to find Udhayakumar had sold the property to another person in 2017. The victim said Udhayakumar mortgaged the property with false documents to another private bank, thus making double sale considerations on a single property.
A few months ago, sensing the delay in filing the chargesheet, the victim approached the Madras High Court, to get an order to make the CCB file a chargesheet within 90 days. By September end, the victim filed another petition in the HC, which subsequently ordered investigating officers to file a compliance report. A senior police officer attached to the CCB said the case is under investigation and that they are gathering evidence.