EOW arrests five developers in three fraud cases

In one case, the developer had sold the flats, which were already sold to other parties, to the complainant, said an EOW official.

Mumbai. The Economic Offences Wing (EOW) of the Mumbai police on Saturday arrested five developers in three different cases of housing fraud in the city. The accused were arrested after flat buyers complained that the developers took money from them but did not deliver the promised flats.

In the first case, the housing-1 unit of EOW arrested Jayesh Shah, 59, from his Kandivali office. (HT PHOTO)

In one case, the developer had sold the flats, which were already sold to other parties, to the complainant, said an EOW official.

In the first case, the housing-1 unit of EOW arrested Jayesh Shah, 59, from his Kandivali office. Shah is accused of duping 30 buyers who had booked flats 10 years ago in a project located in Andheri west and had paid ₹12.14 crore to the builder.

“Shah allegedly did not secure necessary permissions and did not deliver the flats to the buyers. He is suspected to have duped 100 buyers,” EOW said in a statement released on Saturday.

In the second case, the housing-2 unit has arrested three developers -- Rajesh Savla, 53, Ashwin Mistry, 59 and Jayesh Rami, 63. In this case, the accused had sold flats of a Kandivali west housing society to seven people with fraudulent intent, as those flats were already sold to some other individuals. The accused had also mortgaged the flats with a bank, the EOW said. Seven FIRs have been registered against them.