Bangalore police arrested Manivannan, director of Chennai-based JBJ City Developers in connection with a Rs 20-crore scam in Tamil Nadu and a Rs 7-crore land scam in Bangalore. The case came to light when people complained that JBJ City Developers had collected money for land and then failed to allot plots.
JBJ City Developers having its corporate office in Chennai collected several lakhs from people and cheated them by not registering land and also not giving back their money. When the customers approached,they supplied several cheques, which bounced consequently.When the customers approached, the management allegedly threatened them.
The Economic Offences Wing (EOW) of the Tamil Nadu police commenced investigations into the multicrore fraud last week. More than 1,000 victims thronged the EOW office to file their complaints. With the arrest of Manivannan, the police have finally managed to bust a racket that came to light five months ago.
Tags: chennai based realty developer, city based realtor held for land scam, JBJ city developer held, land scam, land scam over 20 crore, real estate, real estate sector
This is very sad issue please observe the company when you are buyin flats