CBI chargesheets 5 ex-promoters of builder in homebuyers fraud case

The chargesheet was filed before the Esplanade Court as part of the agency’s nationwide probe into alleged cheating and diversion of homebuyers’ funds by real estate companies

MUMBAI: The Central Bureau of Investigation (CBI) has chargesheeted five former promoters and directors of Acme Realties Pvt Ltd and its holding company, Acme Housing India Pvt Ltd, over alleged cheating of homebuyers in connection with the Acme Boulevard housing project in Jogeshwari East.

CBI chargesheets 5 ex-promoters of builder in homebuyers fraud case

The chargesheet was filed before the Esplanade Court as part of the agency’s nationwide probe into alleged cheating and diversion of homebuyers’ funds by real estate companies, CBI officials said on Monday.

The agency alleged that the accused companies and their erstwhile promoters and directors induced homebuyers through false assurances and fraudulent representations and obtained financial benefits through illegal and deceptive means.

The CBI said its investigation had uncovered substantial evidence of the alleged fraudulent activities, which has been included in the chargesheet.

The case is part of a wider investigation being conducted by the CBI following directions of the Supreme Court into alleged cheating of homebuyers and diversion of funds involving builder companies and officials of financial institutions.

The agency is currently investigating 32 other cases registered against various builder companies and unidentified officials of financial institutions across the country.