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The North East division police have arrested a builder on Sunday for allegedly cheating several people of money to the tune of Rs 23 crore by selling 396 plots of land using forged documents over the course of nearly a decade. The complainant, Riyaz Ahmad, 51, from Pillanna Gardens, approached the Bagalur police on November 19 and registered a case against K V Venkatesh from Sri Venkateshwara Estate and Builders, and his associates, for allegedly cheating the victim and his friends of crores of rupees by promising them sites in an upcoming layout on Marenahalli Road but giving them fake documents.
In June 2005, employees from the Karnataka Legislative Secretariat formed a forum called Karnataka Legislative Council Secretariat Employees Welfare and Housing Forum under which a plan was chalked out to distribute sites for Vidhana Soudha employees and also for the public. They entered an understanding with K V Venkatesh, and transferred the partial amount collected by the employees to the builder.
He initially showed unsuspecting employees a large piece of land near Bagalur, Huvinayakanhalli, and promised them a site in an upcoming layout named Vayuja Council Garden.
After the initial ceremony conducted in early 2006, KIADB announced the acquisition of this land for the upcoming industrial area; so Venkatesh then put forth the idea of shifting of the layout plan to ChaletMarenahalli Road.
When members began demanding the distribution of sites after a long lapse of time, Venkatesh then began registering the sites for those members who paid the entire amount, but based on false documents.
Venkatesh had collected a sum of Rs 23 crores for 396 sites from more than 350 members, with most of them having false sale deeds registered in their names, but without the presence of any physical land during 2011, 2012, and 2013. The remaining victims have either filed cases of cheque bounce or approached consumer court against Venkatesh, who has more than 116 warrants pending against his name for over one year.
Realtor held for Rs 23 crore scam involving 396 plots
Re: Realtor held for Rs 23 crore scam involving 396 plots
thats what happen with ignorance, our people on the street are vulnerable, i saw the news today, there are many housewife's who agreed with monthly payment scheme in dream of having a site in their name....a lady paid 12.5 lakhs over few years. If such scheme is coming from Govt or Reputed banks still they cannot be trusted 
...this was some private forum, i wonder how people fall into this trap. Shame. Hope they get some money back! 
...this was some private forum, i wonder how people fall into this trap. Shame. Hope they get some money back!