The Central Bureau of Investigation (CBI) has submitted its 14th and 15th charge sheets in an investigation concerning a significant homebuyers’ fraud case in Bengaluru. The charge sheets name two Bengaluru-linked builder companies, their directors, and officials from top financial institutions for their alleged involvement in deceiving homebuyers. The CBI disclosed that the accused entities, along with bank officials and private individuals, purportedly misled homebuyers and investors with false promises to gain illicit financial advantages through unlawful means.
The investigation uncovered that the builder companies and their directors, in collusion with bank officials and others, lured homebuyers and investors with deceptive tactics to secure financial benefits. The CBI has compiled substantial evidence during the probe and has filed the charge sheets under relevant sections of the Indian Penal Code, including criminal conspiracy, cheating, breach of trust, abuse of official position, and under the Prevention of Corruption Act. The agency is currently probing an additional 34 cases directed by the Supreme Court against various builder companies and unidentified officials of financial institutions nationwide for alleged fraud and fund diversion.
Previously, the CBI had lodged 13 chargesheets against multiple real estate firms and their officials from various banks and financial institutions. The agency reaffirmed its dedication to upholding accountability in cases related to economic offenses, corruption, and public fraud, especially those impacting the welfare of ordinary citizens and homebuyers.
