Firm told the investors that they would provide five cents of land at a cost of Rs 3 lakh
Picture for representational purpose
Coimbatore:A couple, operating a real estate firm, has been booked for cheating many investors in the city. The exact number of duped investors and the cheated amount is not known yet as the district crime branch is continuing its probe.
The police said K. Sathish Kumar and his wife S. Latha were operating Athika Infrastructure at R.S. Puram. P. Anbazhagan (40) from Tatabad filed a complaint with the district crime branch police stating that the real estate firm had advertised for the sale of 1,362 sites at Bellathi village, near Therampalayam, on the Mettupalayam–Annur road.
The firm told the investors that they would provide 5 cents of land at a cost of Rs 3 lakh. He visited the site and gave an advance Rs 50,000 for purchasing two plots. A sale agreement was signed on September 10, 2012, but it was not registered in a sub-registrar office.
As the land was not alloted to him, Anbazhagan made enquiries with local residents. To his shock, he came to know that the 150 acres of land did not belong to the real estate firm but was owned by local villagers.
The couple had duped several investors passing off the villagers’ lands as those of the real estate firm, Anbzahagan alleged. The couple has been booked under sections 406 (criminal breach of trust), 420 (cheating and dishonestly inducing delivery of property), 465 (punishment for forgery), 468 (forgery for purpose of cheating), 471 (using as genuine a forged document or electronic record) and 506 (i) (criminal intimidation) of the Indian Penal Code.
( Source : dc correspondent )
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