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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Media Release
November 24,2025

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Sharjah, UAE: Ayisha Basheer Esra, a talented young writer hailing from Aramboor in Dakshina Kannada’s Sullia taluk, marked a significant milestone in her burgeoning literary career with the launch of her debut novel, The Betrayal of the Kingdom, at the Sharjah International Book Fair. The prestigious event, recognized as the world’s largest book fair, provided a fitting stage for the unveiling of Esra’s work.

The official release ceremony was conducted by Sheikh Abdullah bin Mohammed Al Qasimi, Director of the Religious Affairs Office of the Sharjah Government and a distinguished member of the royal family, underscoring the significance of Esra’s achievement. Mrs. Lini Shivaprasad, Principal of GEMS Millennium School, Sharjah, had the honor of receiving the first copy of the novel.

The event was graced by the presence of numerous distinguished guests, reflecting the widespread recognition of Esra’s literary talent and the anticipation surrounding her debut novel. Among the notable attendees were Syed Panakkad Munawwarali Shihab Tangal, Dr. Mariam Al Shenasi, the UAE’s renowned writer and Head of Dar Al Yasmin Publications, Dr. K. K. N. Kurup, Retired Vice Chancellor of Calicut University and Historian, Sharjah Businessman Shamsuddin Bin Mohideen, Nizar Talangara, President of the Sharjah Indian Association, V. T Salim, Director of Silver Home Real Estate, Munir Al Wafa, MD of Lipi Publication Akbar, and other esteemed individuals.

At the remarkably young age of eight, Esra has already established herself as a prolific writer, authoring and publishing collections of short stories in addition to her newly released full-length novel. Her dedication to writing and her exceptional talent have positioned her as one of the youngest authors to achieve such literary success. 

Esra is the daughter of Basheer and Haseena, residents of Aramboor, Sullia, and currently a student at Sharjah’s GEMS Millennium School. Her early accomplishments serve as an inspiration to aspiring young writers and a testament to the power of nurturing creativity from a young age.

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News Network
November 27,2025

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Bengaluru: The Vokkaligara Sangha on Thursday issued a stern warning to the Congress, saying the party could face serious electoral repercussions if Deputy Chief Minister D.K. Shivakumar is not appointed as Chief Minister.

The warning follows the public backing of Shivakumar’s chief ministerial ambition by top Vokkaliga pontiff Nirmalanandanatha Swami, who urged the Congress high command to honor his claim.

“The community supported Congress in the 2023 Assembly elections only because Shivakumar had a real chance to become CM. If he is cheated, we’ll teach the party a big lesson,” said newly elected Sangha president L. Srinivas. He added that Vokkaligas would organize protests under the guidance of community leaders.

General Secretary C.G. Gangadhar pointed out that Congress won more seats in the Vokkaliga-dominated Old Mysuru region due to Shivakumar’s influence, adding, “If Congress wants to retain power, Shivakumar should be made the CM.”

Outgoing president Kenchappa Gowda emphasized Shivakumar’s contribution to Congress’ victory. “Our community voted for Congress thinking he would become CM. Siddaramaiah has also served the party well, but Shivakumar should now be given a chance,” he said.

Former general-secretary Konappa Reddy appealed to Sonia and Rahul Gandhi to recognize Shivakumar’s loyalty and service, saying, “Congress is known to keep its promises. We hope it won’t break the promise made to him.”

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News Network
November 30,2025

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Mangaluru, Nov 30: A 22-year-old college student succumbed to her injuries at a private hospital in Mangaluru today, days after she was hit by a goods tempo while crossing a road in Padubidri.

The deceased has been identified as Preksha, a resident of Nadsalu Billitota in Padubidri. The fatal incident occurred as Preksha, who was returning home after completing her examination, attempted to cross the service road towards Mangaluru. She was struck by a goods tempo approaching from the Udupi side, causing her to fall and sustain a severe head injury.

Prompt action from local residents ensured she received immediate first aid before being rushed to a hospital in Mangaluru for specialised treatment. Despite medical efforts, she passed away while undergoing care.

Preksha was a student at Karavali College, Vamanjoor on the outskirts of Mangaluru city. The tragedy is compounded by the fact that she belonged to a financially vulnerable family, having previously lost her father. She is survived by her mother and brother.

A case related to the accident has been registered at the Padubidri police station, and an investigation is underway to determine the exact circumstances that led to the collision. The incident highlights the growing concerns over road safety, particularly on busy service roads, and serves as a tragic reminder of the human cost of traffic accidents.

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