The Central Bureau of Investigation (CBI) has filed a fresh chargesheet in the Noida housing fraud case, naming several builders and officials for allegedly cheating homebuyers of crores of rupees. The chargesheet, filed in a special CBI court, details how the accused conspired to dupe innocent buyers by promising luxurious apartments that were never delivered.
Key Accusations in the Chargesheet
The CBI has accused the builders of collecting huge sums from homebuyers under various schemes but failing to complete projects. The agency also alleged that the accused used forged documents to obtain approvals and diverted funds for personal gains. Officials from the Noida Authority are also under the scanner for facilitating these illegal activities.
Modus Operandi of the Fraud
According to the CBI, the builders lured buyers with attractive offers and payment plans. They also misrepresented the status of projects and failed to disclose pending litigation. The money collected was siphoned off to shell companies, leaving buyers in the lurch.
- More than 200 homebuyers were cheated out of approximately Rs 500 crore.
- The accused used fake documents to secure loans and approvals.
- Several properties were sold to multiple buyers simultaneously.
Legal Proceedings and Reactions
The court has taken cognizance of the chargesheet and issued summons to the accused. Homebuyers have welcomed the development, hoping for a speedy trial and recovery of their hard-earned money. Legal experts believe this case could set a precedent for similar housing fraud cases in the region.
The CBI has assured that further investigations are ongoing to identify other beneficiaries of the fraud. The agency is also tracing the money trail to recover the embezzled funds.
