A 35-year-old man from Pune, Sandesh Jawale ,Bandra Kurla Complex (BKC) Police Station on Saturday for allegedly orchestrating a massive Rs100 crore real estate scam over the past four years. Jawale, known for his in-depth knowledge of online property auctions, is accused of deceiving several individuals seeking commercial and residential properties in Mumbai.
Jawale’s scam centered around offering properties seized by banks from loan defaulters at prices well below the market rate. He attracted potential buyers by presenting the properties as being available for auction through banks, building their trust by showing them flats and office spaces supposedly seized due to loan defaults.
A police officer from BKC station shared the details, stating, “Jawale gained the confidence of buyers by offering them what seemed like good deals on seized properties. He even took loans on behalf of the buyers, using the funds for his personal gain.”
Jawale’s fraudulent activities began during the Covid-19 pandemic in 2020 and continued unchecked for four years. His downfall came when he allegedly duped a man from Mumbai out of ₹50 lakh after promising him an office space in Bandra Kurla Complex (BKC), a high-profile commercial area in Mumbai.
After the victim filed a complaint, the Deputy Commissioner of Police (Zone VIII), Manish Kalwaniya, supervised the investigation. The police traced Jawale’s business dealings to his company, Quick Deals, which he had registered with the Registrar of Companies as a real estate entity.
Further investigations are underway, and police are working to identify other victims who may have been swindled in this extensive fraud. Jawale’s arrest is seen as a significant step in addressing rising property scams, especially those targeting potential homebuyers and investors.
