A 45-year-old accountant in Ahmedabad has filed a police complaint after being allegedly cheated out of a staggering sum of Rs 13.6 lakh in a fraudulent flat purchase scheme. The victim, a resident of Nava Vadaj who has lived in the city for 16 years, claims he was lured into the scam by his late uncle and two other individuals.
The Promise of a Dream Home Turns Sour
The complainant stated that the scheme was presented to him in October 2016 as a golden opportunity. The alleged fraudsters, including his uncle, promised him a flat in an under-construction project. They assured him that all down payments and loan instalments would be covered by them. To sweeten the deal, they even promised a monthly payment of Rs 19,000 from their business profits, and the flat would be registered in his name.
Convinced by the offer and shown a sample flat, the accountant provided his personal documents to secure a loan. A finance company approved a loan of Rs 13.76 lakh, with a monthly instalment (EMI) of Rs 16,100 to be paid over a 20-year period.
The Scheme Unravels: Payments Stop, Flat Rented Out
Initially, the fraudsters kept their word, paying the victim Rs 10,000 monthly. However, these payments abruptly stopped in May 2022, leaving the man to shoulder the hefty EMI himself. When he investigated further, he discovered an even more shocking betrayal.
"I was left to pay the loan instalments myself, and when I inquired about the flat, I discovered that it was rented out to others without my knowledge," the victim stated in his complaint to the Anandnagar police. The accused had reportedly rented out the flat promised to him and were collecting rent without his consent.
A Wider Web of Deception
The fraud, however, appears to be much larger. The complainant alleged that the accused used a similar modus operandi to deceive other individuals. They even sought his help to lure others into the trap.
"They took advantage of our trust and used our documents to secure loans, which they never intended to repay," he added. The accused allegedly deceived the complainant's wife and several acquaintances, promising them flats and securing loans in their names.
In a brazen extension of the scam, the accused have reportedly rented out 11 flats that were originally promised to various victims. "Despite repeated requests, they have not returned the original documents or provided possession of the flats," the victim lamented.
The police have registered a case against two persons for cheating and criminal breach of trust. The investigation is ongoing as authorities piece together the full scale of this elaborate financial fraud that has left multiple victims in distress.
