Bengaluru: The Northeast division police on Monday November 24, arrested a fraud who had cheated nearly 400 people of Rs 23 cr by promising them residential sites in upcoming layouts.
K.V. Venkatesh, a builder and a resident of Kodigehalli is the accused. It is learnt that he has over 116 warrants pending against him over the last one year, most of them pertaining to cheque bounce cases. Reportedly he had cheated people using 396 fake registration documents of sites in the last four years.
Followiing a complaint filed by Riyaz Ahmed on November 19, a resident of Pillana Garden with Bagalur police against Venkatesh and his associates, police arrested the accused. The accused had promised Riyaz sites in an upcoming layout in Marenahalli Road and duped him of crores of rupees.
Police during investigation found that in June 2005, employees from Karnataka Legislative Secretariat had formed a forum by name ‘Karnataka Legislative Council Secretariat Employees Housing Forum’ under which a plan was chalked out to distribute the sites for the Vidhana Soudha employees and for public.
The forum had also entered into an understanding with K V Venkatesh, the owner (developer/builder) of Sri Venkateshwara Estate and Builders. A sites were supposed to be developed in a 38 acre land in Huvinayakanahalli near Bagalur. He had collected huge money from the members of forum.
Police said, “After conducting initial pooja for the opening of the work in layout named Vajuya Council Garden, on December 16 2006, the KIADB said that the acquisition of the land was notified for upcoming industrial layout.
“While the members lost the trust on Venkatesh, he gained the trust back by showing a piece of land Chagalahatti -Marenahalli Road and demanded more money to develop the layout. Believing it, the members gave him,” said a police officer.
He further added, “By then the members also demanded to distribute sites and provided fake documents. Unaware of it, members paid the money he demanded and thought they had got the land registration. But later they realised that the land belonged to some other group of developers. When the victims approached Venkatesh, he assured to sort out the things and promised them that he would get good land. Rejecting his assurances, the victims demanded to repay their money. In response, Venkatesh issued advance cheques, which in later days was bounced.
He had collected Rs. 23 crore for over 396 sites duping more than 350 members collecting money against false deeds which referred to lands which were not physically available, during 2010, 2011, 2012 and 2013.”
A special team was formed to probe into the case following which Venkatesh was arrested on Monday morning from the city and was booked under sections 468, 471, 420, 406,120 and 506 of IPC.
