In a major real estate fraud case, Bengaluru Police have arrested three individuals for allegedly duping numerous residents out of more than Rs50 crore by offering non-existent rental properties on lease.
The accused have been identified as Ramana, Naveen, and Sudhir — all of whom worked as agents for a property management firm. They are accused of conning victims by presenting themselves as legitimate brokers and collecting large sums as lease advances for rental homes that were either already occupied or not available at all.
According to investigators, the trio used forged documents, convincing property listings, and high-pressure tactics to persuade potential tenants to pay upfront for what appeared to be genuine long-term leases. Once the payments were made, the victims discovered the properties were unavailable, and the agents had disappeared or become unreachable.
Police stated that dozens of residents across Bengaluru fell prey to the scam, with the total fraud exceeding Rs50 crore. Efforts are now underway to trace other possible accomplices and recover the defrauded funds.
All three accused are currently in police custody and are being interrogated. Authorities suspect that the fraud may involve more individuals linked to the property management firm.
