Director of Bengaluru's Dreamz Infrastructure arrested for cheating 1,600 home buyers. The firm had collected Rs 10 to Rs 20 lakh from each of its investors, who were shown vacant plots in areas like BTM LayoutTNN | April 06, 2017, 07:41 IST http://realty.economictimes.indiatimes.com/news/regulatory/director-of-bengalurus-dreamz-infrastructure-arrested-for-cheating-1600-home-buyers/58039473
BENGALURU: K M Anoop, one of the directors of Dreamz Infrastructure company which has allegedly cheated 1,600 home buyers of Rs 2,000 crore, has been arrested, CID sources said.
Anoop had been evading arrest and was picked up in Delhi on Tuesday and brought to Bengaluru on Wednesday, they said.
The firm had collected Rs 10 to Rs 20 lakh from each of its investors, who were shown vacant plots in areas like BTM Layout, Mahadevapura and JP Nagar and promised apartments in projects christened Dreamz Saakar and Dreamz Sneha. Most of the payments were made about three years ago, but none of the projects progressed, prompting investors to go to police. Police also arrested Sachin Naik, a partner in the company.
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