Film Director Falls Prey to ₹1.50 Crore Land Scam in Goa
Film director Siddharth Jena was duped of ₹1.50 crore by 10 persons promising profitable returns from investing in land and flats in Goa.
Land ScamReal EstateGoaFilm DirectorSiddharth JenaReal Estate MumbaiMay 29, 2024
Jena and his wife Ritu were introduced to a “reliable real estate agent” Vikramdev Malhotra in November 2020 and were shown properties on a website. Jena selected a plot in North Goa for ₹84 lakh and made an initial payment of ₹25,000. He later issued cheques of ₹10 lakh. In March 2021, Malhotra persuaded Jena to buy more plots, assuring him that the land’s value would triple. Jena paid ₹48.50 lakh through bank transfers and cash, and ₹91 lakh to Malhotra’s bank account. He also transferred ₹7.5 lakh intended for his son’s education, which Malhotra eventually returned.
For two years, Malhotra delayed transferring the land to Jena’s name and didn’t return the money. When a cheque from Malhotra bounced in July 2023, Jena filed a complaint. The other accused allegedly pretended to be landowners and assisted Malhotra in the fraud.
The case highlights the importance of thorough research and due diligence before investing in real estate, especially in a new region.
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Frequently Asked Questions
How much money was Siddharth Jena duped of?
₹1 50 crore
Who introduced Jena to the real estate agent?
Not specified in the article
How many plots did Jena buy?
At least two
Why did Jena file a complaint?
A cheque from Malhotra bounced in July 2023
How long did Malhotra delay transferring the land to Jena’s name?
Two years
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