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News18 » India
1-min read

Chief Minister Orders CID Probe Into Real Estate Company for 'Cheating People'

The Karnataka Government has ordered a CID probe into alleged irregularities in real estate firm Dreams Infra for cheating thousands of people.

Nagarjun Dwarakanath | CNN-News18

Updated:March 15, 2017, 1:46 PM IST
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Siddaramaiah
File photo of Karnataka CM Siddaramaiah (PTI )

Bengaluru: The Karnataka Government has ordered a CID probe into alleged irregularities in real estate firm Dreams Infra for cheating thousands of people.

Dreams Infra, proprietor Sachin Naik along with nine of his associates were arrested by Madiwala police on Monday and are now in Police custody. Naik floated three real estate companies - Dreams Infra, TGS Construction and Gruh Kalyan Properties, conned people by collecting advance money and never allotted a flat. When confronted to show the progress, victims alleged that Naik showed random under construction buildings to mislead his customers.

Karnataka Chief Minister, Siddaramaiah, tweeted, “I am concerned over 2000 people are affected by Dreamz Infra Co case. All accused were arrested. Case being given to CID for further action.”

According to Police Naik and his associates were started duping people from 2011. He would sign a MoU with the customers and collect the amount and few years later there would be no progress in construction. Police suspect over 5000 people were duped by Naik and Co.

A Resident of Bangalore, Naik was arrested in late 2016 on cheating cases. But he was out on bail. Police had to arrest him now as fresh cases were registered against him.

“Sachin Naik has been cheating people since last 5 years, there were 60 cases registered just in Madiwala and more across the city. He would sign agreements with people and collect the cash and there would be no construction. The last 3 months there were fresh cases registered against him,” said, Boralingaiah, DCP South East. ​

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| Edited by: Ananya Chakraborty
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