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Realty 'fraudsters' diverted Rs 1,000 crore: Cops

Money collected from victims invested in MNCs and ads; cops yet to establish key accused’s role.

Published: 06th April 2017 02:05 AM  |   Last Updated: 06th April 2017 05:13 AM   |  A+A-

By Express News Service

BENGALURU: Police officials who are investigating what they believe to be one of the biggest real estate scams in Bengaluru say that the prime accused Sachin Naik and his associates allegedly invested a whopping `1,000 crore in multinational companies and even advertised with big players like the IPL cricket team Royal Challengers Bengaluru.   

The CID has arrested one of directors, Anup K M, who was trying to flee the country. But, as they have been unable to establish Naik’s links with the companies he is believed to be involved with, they are now poring through documents and have also sought information from other companies and his victims. So far, the police have not found Naik’s name on the board of directors of any of the firms he is said to be involved in.

A total of 82 cases were filed against Dreamz Infra India Ltd, TGS Construction Pvt Ltd and Gruha Kalyan Pvt Ltd at Madiwala police station and later handed over to the Criminal Investigation Department. The CID has now formed three teams to investigate the cases which also includes the real estate experts. But they are yet to find where the money has been invested.

CID sleuths said Dreamz Infra India Ltd has 13 directors and claims to be undertaking 48 housing projects. TGS Construction Pvt Ltd has five directors and is undertaking 65 projects while Gruha Kalyan Pvt Ltd had five directors and is undertaking 17 projects.
The CID has opened a special cell in its office where firms and the public can share information. People with any information can call the helpline (080-22094451) or write to alertcid@ksp.gov.in.

How it all started
Naik and his associates allegedly got into the business of cheating people a decade ago but it came to light only in 2009 when a complaint was registered at Commercial Street police station.
According to the complaint, they started a real estate firm named ‘Frontier’ and allegedly cheated over 800 people of `16 crore. Naik’s name was then Sumanth and his wife Disha’s name was Esha Sumanth. The duo fled the city after the incident, but returned to Bengaluru assuming the names Naik and Disha Choudary, police said.  

Naik started Dreamz Infra India Ltd in the name of Disha Choudary and another firm TGS Construction Pvt Ltd in the name of his second wife Mandeep Kaur. He opened another company Gruha Kalyan Pvt Ltd in Mazumdar Satarpani’s name.
The accused collected huge sums and he also produced a Hindi movie titled ‘Anuradha’ with Disha in a lead role. He built a Shirdi Sai Baba temple on 11.5 acres of land in Kanakapura taluk. He also advertised with the Indian Premiere League team Royal Challengers Bengaluru.

Naik also set up a start-up company ‘Send My Gift’ for which Bollywood actor Hrithik Roshan was brand ambassador. He also invested in Dailypooja.com, mom and baby products, Furniture.com, DKG enterprises and Udyogamitra Trust, police said.
Madiwala police had earlier arrested Naik, Disha, Mandeep Kaur, Lokesh Srinivas, Amarnath, Iqbal Khan, Suryaprakash Singh, Siddarooda Hunisikatti, Puttegowda, Sudhakaran, Sujith Sudhakar, Akhul and Jasdeep Singh.



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