Bengaluru: Bengaluru Police have registered a case against a mother-daughter duo for allegedly cheating several people of nearly ₹5 crore through a fraudulent flat investment scheme. The accused are alleged to have lured investors with promises of affordable apartments, attractive returns and assured property allotments before failing to honour their commitments.
Investors promised flats and high returns
According to police, the accused allegedly collected large sums of money from multiple investors over a period by claiming they could provide residential flats at attractive prices and generate profitable returns on investments.
Victims alleged that after receiving the money, the duo repeatedly delayed the promised allotments and repayments. As more investors realised they had been cheated, complaints were lodged with the police, leading to the registration of a criminal case.
Police launch investigation
Based on the complaints, police have booked the accused under relevant provisions related to cheating and criminal breach of trust. Investigators are examining financial transactions, documents and investment records to determine the exact amount collected and identify the total number of victims.
Officials are also verifying whether the accused diverted the funds for personal use and whether additional people were involved in the alleged fraud. The investigation remains underway.
Public urged to verify investment offers
Police have advised citizens to exercise caution before investing in real estate schemes that promise unusually high returns or quick allotments. Prospective buyers have been urged to verify project approvals, ownership documents and the credibility of developers before making payments.
Officials said timely verification and reporting of suspicious investment offers can help prevent financial losses and protect other potential victims.