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Three men have been arrested for a massive property leasing fraud in Bengaluru that duped residents of over ₹50 crore, leaving hundreds of families in crisis.
A massive property leasing scam has rocked the city, leaving hundreds of residents reeling after losing their hard-earned savings. The Bengaluru police have arrested three men – Ramana, Naveen, and Sudhir – for their alleged involvement in a ₹50 crore fraud that misled tenants and property owners across the city.
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The prime accused, Vivek Keshavan, owner of Catena Homes India Pvt. Ltd., is currently absconding. The company, headquartered in Electronic City, presented itself as a legitimate property management firm that connected tenants with homeowners. While tenants were promised houses on lease, property owners were under the impression that their properties were being rented out under proper agreements.
Victims, many of them migrants, claim to have paid ₹20–50 lakh per household to lease properties in prime areas like Marathahalli, Banaswadi, Whitefield, and Electronic City. The alleged scam came to light when tenants and owners discovered they had been deceived, resulting in hundreds of families facing eviction and severe financial stress.
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The scam is believed to have worsened during the COVID-19 pandemic, when tenants vacated homes and the company reportedly failed to return lease deposits, creating a financial black hole. Multiple FIRs have been filed, and police are working to trace the absconding owner while also attempting to recover the defrauded funds.
The case has sparked outrage among residents, many of whom gathered outside the Electronic City DCP office demanding swift justice and financial restitution.
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