CBI Files 10th Chargesheet in Major Real Estate Fraud Case
NEW DELHI: The Central Bureau of Investigation (CBI) has filed its 10th chargesheet in the ongoing probe into an alleged large-scale homebuyers’ fraud, naming M/s Shubhkamna Buildtech Pvt. Ltd. and its directors in connection with a housing project in Greater Noida.
According to the agency, the company and its directors allegedly cheated homebuyers and investors through false promises, misleading claims, and deceptive assurances linked to the project. Investigators alleged that funds were dishonestly collected from buyers, causing significant financial losses to investors while securing wrongful gains for the accused.
The chargesheet has been filed before a competent court under provisions of the Indian Penal Code related to criminal conspiracy, cheating, and criminal breach of trust. CBI officials said documentary evidence and financial records indicated a coordinated effort to mislead homebuyers. Investigators claimed the material gathered pointed to deliberate actions rather than isolated lapses.
The agency said investigations are currently underway in 50 cases registered on the directions of the Supreme Court. These matters relate to allegations that funds collected for housing projects were diverted without authorization. The probe also covers claims that several construction firms, along with unidentified bank officials, misled homebuyers and investors.
This comprehensive investigation highlights the CBI's commitment to uncovering and addressing systemic issues in the real estate sector. The ongoing efforts aim to bring justice to the numerous homebuyers and investors who have suffered significant financial losses due to fraudulent practices in the industry.
