CID sleuths take Sachin Naik into custody, plan to recover money by auctioning his properties

CID sleuths took Sachin Naik into custody on May 16.
CID sleuths take Sachin Naik into custody, plan to recover money by auctioning his properties
CID sleuths take Sachin Naik into custody, plan to recover money by auctioning his properties
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Here is a man who duped thousands of Bengalureans with the promise of their dream homes. Sachin Naik alias Sumanth Kumar Das alias Yogesh Choudhary duped over 8,000 people of Rs 1,500 crore through his companies, Dreamz Infra and Gruha Kalyan.

Now the CID has custody of him and his interrogation has revealed that there may be hope for those who were cheated by him. 

CID sleuths took Sachin Naik into custody on May 16 and have been interrogating him ever since.

“A month-and-a-half ago, investigating officers have recorded information about his assets. Three Deputy Superintendents of Police, with a ten-member team under each, have been looking into Sachin Naik’s finances and have been conducting search operations,” an investigating officer told The News Minute.

The officer said that Sachin Naik has properties in prime locations across the city and in surrounding areas. The officers have written to the government for permission to attach and auction his properties. “Most of the money he made by duping the public can be recovered if the properties are auctioned,” the officer added.

Upon interrogating Sachin Naik, CID sleuths have unearthed his modus operandi. The officer said that Sachin Naik had built four properties, which he would show the potential buyers and obtained large sums as advance for flats that he had no plans of constructing.

Investigation has revealed that Sachin Naik in turn, bought more properties with that money and also used it for advertisements to con people on e-commerce websites.  

CID sleuths found that Sachin Naik would offer huge discounts on the flats to potential buyers.

“He would offer to sell the flats for half the price, which made people want to invest in the deal. He would take half the money as advance and would ask people to pay the rest in instalments. Some people have paid more than 70% of the total cost but he never had plans of constructing homes for them,” the officer added.

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