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• Uttar Pradesh's Economic Offences Wing (EOW) has arrested a director of Karmabhoomi Real Estate Company Limited in connection with an alleged INR 100 crore real estate investment scam.
• The company allegedly collected funds from hundreds of investors across multiple districts by promising high returns through real estate-linked schemes.
• Investigators have identified six directors associated with the company, while five accused are still absconding.
• The probe is focused on tracing investor funds, examining financial records and identifying the full extent of the alleged fraud.
• Authorities believe the case affected a large number of small investors and further arrests may follow as the investigation progresses.
The Economic Offences Wing (EOW) of Uttar Pradesh Police has arrested a director of Karmabhoomi Real Estate Company Limited in connection with an alleged INR 100 crore real estate investment fraud that reportedly targeted hundreds of investors across the state.
The arrest marks a significant development in an ongoing investigation into the company's fund-raising activities and investment schemes. According to officials, the company allegedly attracted investors by offering lucrative returns linked to real estate projects and land-based investment opportunities. The schemes were promoted as secure investment options, encouraging people to deposit substantial amounts with the company.
Investigators believe that the company collected nearly INR 100 crore from investors across several districts of Uttar Pradesh. Authorities suspect that the funds were mobilised through promises of attractive returns and future financial benefits that were either unrealistic or unsupported by actual business operations.
The EOW's investigation revealed that multiple individuals were associated with the company's management and operations. Officials said the arrested director played an active role in running the business and mobilising investments. While one accused has been taken into custody, five other directors and associates linked to the case remain absconding and are being traced by investigators.
The agency is examining company records, investment documents and financial transactions to determine how investor funds were collected and utilised. Officials are also analysing bank accounts and related financial trails to establish whether the money was diverted and to identify the beneficiaries of the alleged scheme.
Authorities are simultaneously working to identify all affected investors and assess the total financial impact of the alleged fraud. The investigation is expected to uncover the exact number of victims and provide a clearer picture of the company's operations across the state.
The case adds to a growing list of actions taken by enforcement agencies against fraudulent real estate and investment schemes. Over the past few years, authorities have intensified scrutiny of companies that raise funds from the public by promising unusually high returns without adequate safeguards or regulatory oversight.
Officials indicated that the probe remains active and further action could be initiated based on evidence collected during the investigation. Additional arrests are likely if the involvement of other individuals is established during the course of the inquiry.
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