Central Crime Branch officials arrested the managing director of Skyline Construction and Housing Private Limited, a city-based real estate company, for allegedly duping over 200 people of ₹100 crore by promising them apartments.
The accused, Avinash Prabhu, was arrested on the basis of a complaint filed by Christopher Regal, one of the victims at Hennur police station. Considering the magnitude of the case, Ccity Police Commissioner T. Suneel Kumar has referred the case to CCB for further investigations.
According to the police, Avinash, along with his brother Dhiraj, floated the company promising high-end apartments in and around Bengaluru and had taken 90% of the money from the people in advance.
The money was later used to purchase land in and around the State and the accused have also invested the money in 11 coffee outlets in the city.
The accused would get huge returns from the investment and lead a lavish life, the police said.
The CCB officials, on Thursday, raided Avinash’s house and seized a huge volume of property documents, three high-end cars and other valuables from him. However, Dhiraj managed to escape and efforts are on to trace him, officials said. Initial probe revealed that Avinash had purchased five acres of land in Kengeri, three acres in Allalasandra, three acres in Hennur, seven acres of land in Kanakpura and 8.5 acres of land in Mangaluru.
This apart, he had purchased half acre of land in Chennai and bought properties in and around the State, a senior police officer said.
The CCB has seized documents and are collecting details on the exact amount of cheating, after which a report will be submitted to the court for further action.