Cops are hoping to get Naik’s bail cancelled before it’s too late
Sachin Naik, main accused in multi-crore realty scam, fails to show up as per bail conditions; investigators worry he might be trying to weaken case
The Criminal Investigation Department (CID) is under some pressure now after the main accused in the multi-crore Dreams Infra realty scam, Sachin Naik, has gone underground a few days after he was released on bail. Violating his bail condition that required him to report to the investigation officer every Tuesday and Friday, Naik is neither at home nor reachable otherwise. Essentially, nobody knows where he is.
The CID has officially made a submission before the first Additional Chief Metropolitan Magistrate court, requesting for the cancellation of his bail, citing the above reasons.
Naik, along with his partner Disha Choudhury, and later Mandeep Kaur, is accused of duping at least 2,500 customers through multiple realty ventures including, Dreamz Infra, TGS Real Estate and Gruha Kalyan Properties. His modus operandi was to accept advance payment from his customers for residential apartments and lure them into the trap with aggressive marketing gimmicks. The money collected was diverted into other ventures. The number of victims and the amount of money he made (at least Rs 1,000 crore) makes him one of the most wanted scamsters on CID’s radar. He was arrested in December 2016 and after multiple protests by duped customers, the probe was handed over to the CID.
Read more complains about Dreamz Infra :
- Dreamz Infra Pvt Ltd - Cheating its Customers
- Sachin Nayak started one more fraud company from Jail
- False commitments by Fraud Sachin Naik
- CID makes third arrest in multi-crore real-estate scam
- Real estate firm accused of fraud
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