A major financial fraud involving a fake land investment deal has surfaced in Bengaluru after a Mysuru-based businessman alleged he was cheated of more than ₹3 crore by a man posing as a senior executive of a reputed IT company.
The case has raised fresh concerns over impersonation scams linked to high-value real estate deals.
Fake corporate identity used
According to the complaint, Bharath CS (32), a restaurateur from Mysuru, was introduced to Gagandeep alias Gagan N Deep (31) through a mutual contact in early 2025.
The accused allegedly claimed to hold a senior role in the Corporate Social Responsibility division of a leading IT firm and used that identity to gain trust.
Attibele land bait
Police said Bharath was offered an investment opportunity involving 53 acres of land in Attibele at a below-market price through internal contacts and a bidding process.
He was reportedly shown advertisements and asked to submit a formal bid through email, making the proposal appear genuine.
Crores moved through accounts
Investigators said Bharath first transferred ₹20 lakh and later ₹15 lakh to different bank accounts as instructed.
The complaint further alleges that demand drafts worth ₹3 crore were routed through accounts linked to Bharath’s firm and later diverted elsewhere without approval.
A separate ₹1 crore draft was allegedly encashed without his knowledge, while ₹25 lakh cash was reportedly collected near a toll plaza.
Wider fraud history suspected
Officials said the accused may have links to earlier cheating cases, including one involving nearly ₹6 crore connected to a Mysuru-based company.
Authorities also stated that over ₹2 crore has already been recovered and deposited into a government account.
Separate proceedings are also reportedly pending in Hyderabad.
Probe underway
Police are now tracing bank transactions, digital records and possible links to other victims who may have been targeted through similar methods.
The investigation continues