Realty, finance firms swindled Rs 3,273 cr, duped 17.93 lakh people in 10 years!

News Network
July 30, 2017

Bengaluru, Jul 30: The fraudulent real-estate and finance firms have duped Rs 17.93 lakh people, swindling them of Rs 3,273 crore between 2006 and 2016 in Karnataka, according to the Criminal Investigation Department.

CID has found that several thousands of people duped in real estate and investment scams in different parts of the state have not approached the police.

Director General of Police H C Kishore Chandra said the economic offences wing of the Crime Investigation Department had confiscated properties worth Rs 594 crore in connection with the scams.

The sleuths are recovering more properties, but of the 100 accused arrested in 422 cases, most are out on bail. A team of 40 CID officials is working exclusively on the cases, Kishore Chandra said.

The money can be returned to victims after the government auctions the confiscated properties, he said.

Of about 6,500 investors cheated by real-estate firm Dreamz Infra, only 2,382 have approached the CID and submitted documents.

Similarly, of the 5,315 investors swindled by TGS Constructions, only 2,750 have turned up with documents. In housing project Gruha Kalyan, only 814 of 2,220 investors have approached the CID.

Such companies are launched with pomp and fanfare with the participation of film stars and celebrities. “They advertise widely, promising good returns on investments, and flats and villas with extravagant features. For a few months, they keep their word,” Kishore Chandra said. But once the investments become a flood, they grab the money and run, he said.  

The owners and their benamis then get busy investing in sites, houses and stocks for themselves. They also produce films and splurge on gold, silver and swanky cars, he said.

The Criminal Investigaton Department is advising investors and buyers to verify the credentials of firms with the Reserve Bank of India, the Security Exchange Bureau of India, Registrar of Companies, and the Registrar of Cooperative Societies.

People are increasingly losing their hard-earned money because they don’t check the credentials of companies they hand their money to, he said.

Under the Protection of Interest of Depositors in Financial Establishments Act of 2004, the CID can confiscate movable and immovable properties of those accused in investment scams.

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News Network
December 16,2024

Mangaluru, Dec 16: A tragic incident unfolded at Someshwara beach on Monday when a woman, participating in the Pinda Pradhana ritual for her late brother-in-law, lost her life after drowning.

The deceased, Usha (72), was the wife of the late Jagadish Bhandary from Derebail. She had traveled to Someshwara with her relatives to perform the ritual for her brother-in-law, Karunakar Bhandary, who had passed away recently.

After completing the ceremony, Usha and her relatives went for a sea bath as part of the rites. Tragically, Usha slipped and was swept away by the strong waves. Though her relatives cried out for help, locals who rushed into the sea could only retrieve her lifeless body. She was declared dead when brought to shore.

Usha had retired after a 40-year career as an assistant secretary at the New Mangalore Port Authority (NMPA). She is survived by her daughter.

The body has been sent to K S Hegde Hospital in Deralakatte for postmortem, and a case has been registered at the Ullal police station.

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News Network
December 13,2024

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Bengaluru: The Karnataka High Court on Friday granted bail to the prime accused actors Darshan Thoogudeepa Srinivas and Pavithra Gowda in the Renukaswmy murder case.

Justice S Vishwajith Shetty said that all the petitions have been allowed.

The other accused in the case, Nagaraju, Anu Kumar, Lakshman, Jagadeesh alias Jagga and R Pradoosh Rao have also been granted bail.

Renukaswamy was found dead on June 8, 2024. He was working in a medical shop in Chitradurga. The accused had kidnapped and allegedly murdered him in a shed at Pattanagere in R R Nagar police station limits of Bengaluru city for sending obscene messages to Pavithra Gowda.

The actor was arrested on June 11 this year. He was earlier lodged at the Parappana Agrahara Jail in Bengaluru, but when a photograph went viral showing him relaxing with some of the jail inmates, he was transferred to Ballari Central Jail.

Darshan is presently hospitalised for alleged back pain.

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News Network
December 13,2024

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Minister of military affairs Israel Katz has ordered Israeli troops to "prepare to remain" throughout the winter in Syria including the strategic Jabal al-Shaykh mountain which they occupied after the fall of President Bashar al-Assad. 

In an announcement on Friday, Katz said he had issued the order during an assessment the previous day with the Israeli army's chief of staff Herzi Halevi, and other officers.

"Due to the situation in Syria, it is of critical security importance to maintain our presence at the summit of Mount Hermon [Jabal al-Shaykh], and everything must be done to ensure the (army's) readiness on-site to enable the troops to stay there despite the challenging weather conditions," he said.

Israel started its push to grab more Syrian land on Sunday, after foreign-backed militants led by Hay'at Tahrir al-Sham (HTS) announced the fall of President Assad’s government following a rapid two-week onslaught.

Israeli forces seized the so-called buffer zone, which separates the occupied Golan Heights from the rest of Syria, in violation of a 1974 disengagement agreement. The occupation forces have entered several towns in Quneitra, forcibly evacuating residents. 

They occupied the summit of Jabal al-Shaykh which provides an observation point for areas in Syria and Lebanon. It rises to 9,232 feet (2,814 meters) and is the highest point on the east coast of the Mediterranean Sea.

Israeli troops have advanced beyond the so-called buffer zone toward Damascus, with the regime's warplanes conducting hundreds of aerial assaults on Syria.

Katz had earlier said that the regime was planning a "sterile defense zone" in southern Syria. Several regional countries said Israel is taking advantage of the chaotic situation in Syria to expand its occupation of the Arab state.

Israeli soldiers entered the town of al-Hurriya in Quneitra province on Thursday. Local sources said Israeli forces also carried out a forced evacuation of the residents of the village of Rasem al-Ruwadi in the region. 

On Wednesday evening, Israeli forces stormed the towns of Ruwaihinah and Umm Batna in the central countryside of Quneitra as well.

Residents of the town said the occupying regime forces asked them to evacuate their homes to annex them to the so-called buffer zones. The incursion involved tanks and infantry units, during which several houses were searched. 

Many Syrians and others watching the fast-moving pace of events say Netanyahu is using this moment of change in their country to permanently seize further territory.

“They are saying they will give it back, but they are already occupying the Golan Heights which they haven’t given back. What would make you believe they will give this back?” Haid Haid, a senior consulting associate fellow at Chatham House, told Middle East Eye. 

Israel has wiped out Syrian naval vessels, sea-to-sea missiles, helicopters and planes, including the entire fleet of MiG-29 fighter jets and stockpiles of ammunition in attacks on at least five air bases.

Reports say Israel and militant groups in Syria have previously come to successful arrangements whereby Israel provided emergency aid and medical care to militants so long as the groups did not attack the Zionist regime.

In a note to correspondents issued on Thursday, United Nations Secretary General Antonio Guterres said he is "deeply concerned" over "extensive violations" of Syrian sovereignty.

The UN chief also said he is "particularly concerned over the hundreds of Israeli airstrikes on several locations in Syria." 

He further stressed that the 1974 Disengagement of Forces Agreement between Israel and Syria “remains in force” and that it must be upheld by "ending all unauthorized presence in the area of separation and refraining from any action that would undermine the ceasefire and stability in Golan.”

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