RAJKOT: At least 19 people in Junagadh lost a total of Rs 2.43 crore in a real estate investment fraud orchestrated by two people who offered them posh flats in a residential scheme and then disappeared with the money.
A complaint was filed by one of the victims, Rama Gadhiya, a retired employee of the state-run Pashchim Gujarat Vij Company Ltd (PGVCL), against Manish Kariya and Sanjay Bhandari, who cheated her of Rs 35 lakh. The complaint reveals that 18 other people were deceived of Rs 2.08 crore.
Following her retirement in 2023, she was looking to purchase a house using her gratuity and PF funds. She happened to meet Kariya and Bhandari, who presented their ‘Moon Light’ construction project on Chobari Road. They offered a three-BHK duplex for Rs 26 lakh, including plot and construction costs. After discussions, she agreed to purchase one house for Rs 24 lakh and two houses for Rs 48 lakh, making an advance payment of Rs 35 lakh, with plans to secure a loan of Rs 13 lakh.
The developers promised to complete the construction approval process by November 2024. However, when she visited their office in November to discuss progress, they requested additional time.
On Dec 3, both developers became incommunicado, with their phones switched off and office closed. Gadhiya later learnt that 18 other people were similarly cheated by the accused.
