Ahmedabad: A 37-year-old businessman from Thaltej and his partners were allegedly swindled out of Rs 64 crore in an elaborate real estate fraud. The group was reportedly lured by a suspect who promised a high-yield investment involving a lucrative land deal.According to the complaint filed with the economic offences wing (EOW) of the crime branch on Thursday, the businessman is engaged in angadia and land dealing. He was introduced to a man who claimed to own multiple prime land parcels in Sola and nearby areas. “In 2021, the accused convinced the victim and his partners to invest in a land deal worth over Rs 56 crore, assuring clear title and quick documentation. The accused insisted on large cash payments and received around Rs 41 crore in phases. However, the deal was repeatedly delayed on various pretexts. Later, the accused offered alternative land parcels and properties, including flats, instead of executing the original agreement,” the complaint stated.The complaint told police that the group paid Rs 64 crore in cash and additional amounts via bank transfers. “While partial returns were made in the form of properties and payments, a substantial amount remains unpaid,” stated the complaint. Investigations revealed that some documents and payment vouchers shown to the investors were allegedly forged. The accused also allegedly failed to execute promised sale deeds despite repeated assurances.Crime branch police registered a case of cheating, criminal breach of trust, and forgery under relevant sections of the Bharatiya Nyaya Sanhita.
