100 crore real estate fraud in Kerala, NRIs seek Chief Minister’s help

Mangalore Today / PTI

Thiruvananthapuram, June 10 :  Non-resident Keralites are seeking the help of Chief Minister Oommen Chandy after they fell prey to one of the biggest real estate frauds in the state.

 

A Kochi-based company ’Apple-A-Day Properties’ reportedly collected over Rs. 100 crore from buyers which included 125 Indian expatriates in the Middle East. The company offered villas and apartments in the heart of the city at attractive rates. It used the goodwill of a couple of its completed projects to rope in buyers, but after it missed many deadlines for its 11 new projects, customers cried foul.

"It’s for realising the dream of owning a house in one’s native place that NRIs like me invested over Rs. 45 lakh each in the project. But even after 5 years, nothing has been completed," said R P Abdul Hameed, a victim.
 
The firm’s Director and Managing Director went underground after the company allegedly went bust a few weeks ago. Soon, complaints started pouring in and over 160 FIRs have now been registered against the company.

Police say the duo, who led a lavish lifestyle, have withdrawn money from all their accounts. A look out notice has also been issued against them.

"We have received many such complaints. We are seriously exploring ways to check these fraudulent practices," said Chief Minister Oommen Chandy.
 
Police sources say ’Apple-A-Day’ fraud is just a tip of the iceberg and that many companies are also under the scanner. Now with the government promising stern action against such fly-by-night real estate firms, the victims are hopeful of finally getting justice.