The Economic Offences Wing (EOW) on Tuesday arrested two sisters—one of them a practising lawyer—for allegedly duping 27 individuals of Rs3.71 crore by promising them residential plots that never materialized.
The accused, Hamsaveni, an advocate, and her sister Sree Lakshmi, are both directors of a T Nagar-based real estate company, Lakshmi Classic Homes Pvt Ltd. According to police, between 2019 and 2021, the company collected money from unsuspecting buyers by offering residential plots at significantly discounted prices.
However, investigations revealed that no land was ever allotted to the investors, and the collected funds were misappropriated for personal use. As complaints piled up, police registered a case based on one of the victims’ reports.
The duo has been booked under:
IPC Sections 409 (Criminal breach of trust),
Section 420 (Cheating) read with Section 34 (common intention),
BNS Sections 316(5) and 318(4) read with 3(5),
BUDS Act Section 21(1), (2), (3) (regulation of unincorporated deposit schemes).
