PUNE: The Economic Offences Wing (EOW) of the city police has launched an inquiry into a case of fraud against a builder and his associate. They are accused of defrauding an 80-year-old man of ₹12.58 crore over the last decade.
A formal complaint was filed at the Koregaon Park police station on Wednesday, leading the EOW to assume responsibility for further investigation.
According to Assistant Inspector Kalyani Pandole of the EOW, the complainant was a successful warehouse businessman who is now retired.
The police report indicates that the builder initiated a housing project in 2016, prompting the complainant and his wife to invest in it. “The builder and his partner took ₹11 crore but failed to deliver six flats from the project. When the complainant and his wife sought possession in 2019, the builder proposed three shops in a new project on Boat Club Road,” Pandole stated.
In 2019, the couple entered into an agreement to purchase the shops. However, numerous years have passed without any possession being granted, according to Pandole.
The complainant later visited the construction site and discovered that work had not commenced. He subsequently approached authorities with his complaint.
The complainant repeatedly asked the builder to either provide the shops or refund his investments, but his requests were ignored.
