Man takes Rs 9cr for flats, escapes

Aug 08, 2012 |

Hyderabad

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The Musheerabad police issued a lookout notice for one G. Srinivas, 36, a resident of Gandhinagar for allegedly duping many people with fake sale agreements. He allegedly sold the same set of flats to different buyers after taking money from them. Police said the accused collected around Rs 9 crore from different clients, and fled two months ago. As many as 18 persons approached the Musheerabad police and lodged complaints against Srinivas.

According to Musheerabad police inspector, Mohammed Riyazuddin, the accused was running a real estate firm called Sri Sai Developers for the last 15 years. “He built two buildings called Konair Towers and Susheela Mansion at Gandhinagar and approached many people to buy the apartments in it. However, he collected money and made agreements with five to six clients at a time for one apartment, and cheated them. He fled with the money on June 26,” he said.

Police booked cases under Sections 468 (forgery for the purpose of cheating), 471 (for using a forged document), 419, 420 (for cheating), and 406 (for criminal breach of trust) of the IPC against the accused. Police suspect the accused could be in any locality in Siddipet, Nalgonda, Warangal, or Bheemavaram of East Godavari, since his relatives live there.

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