Businessman Alleges ₹1.52 Crore Fraud in Real Estate Deal, Police Investigate

A major fraud case has come to light in the real estate sector of Lucknow. Hement, a businessman residing in South City, PGI area, has accused Pankaj Kumar from Varanasi of cheating him of ₹1.52 crore in the name of a land deal. Following a court order, the police have registered an FIR against the accused and initiated an investigation. The complainant alleges that despite making the payment, the land was not registered, and he was later threatened when he raised objections.

According to the victim, he met Pankaj Kumar, a resident of Varanasi, in 2020. The accused reportedly introduced himself as the owner of Shivkashi Infracity Private Limited and promised to arrange 20 bighas of land in Mirzapur district at a low price. During initial discussions, the deal was finalized at ₹1.52 crore, after which the businessman transferred the amount, believing the accused’s assurances.

However, it is alleged that even after receiving the money, the accused did not proceed with the land registration process. Repeated attempts to contact him reportedly failed to produce any satisfactory response. When the victim started putting pressure, the accused allegedly resorted to threatening behavior, forcing Hement to approach the court seeking legal intervention.

Following the court’s direction, the PGI police have registered a case in the matter. According to police officials, preliminary investigations are underway to verify the authenticity of the allegations by thoroughly examining transaction records and relevant documents. Authorities stated that further action will be taken based on the evidence collected during the probe.

Local sources indicate that incidents of cheating in the real estate sector have increased in recent years, where fraudsters lure buyers with false promises and extract large sums of money. Experts say transparency and legal verification are essential in property transactions, as making payments without proper registration or valid documentation carries significant financial risks.

Police are also investigating whether accused Pankaj Kumar was involved in similar transactions with any other individual in the past. Officials said that all evidence provided by the complainant will be included in the investigation process. If the allegations are found to be true, strict legal action and possible arrest of the accused may follow.

The case has also generated discussion among people associated with the real estate business. Industry stakeholders are raising concerns about the growing number of fraud cases carried out in the name of trust-based property deals. Experts believe that major property transactions should be conducted through proper banking channels, verified registration procedures, and legal scrutiny of property ownership records.

Authorities have appealed to the public to carefully verify property documents before entering into any land or investment deal and avoid trusting unknown individuals blindly. Police officials stated that the investigation is being conducted in depth and the accused may be questioned if necessary.

At present, legal proceedings have been initiated against accused Pankaj Kumar in the cheating case. The investigation team is trying to determine whether this incident is part of an organized fraud network. Police said the exact facts will become clearer after the completion of the investigation.