In a cheating case, a promoter of a real estate project was arrested by enforcement officials under the Money Laundering Prevention Act. He was identified as Mahesh Bhupat Kumar Oza, promoter of Karan Group Builders and Developers. The enforcement officials picked him up in Bangalore.
Later, he was taken into their custody. Following a complaint lodged by a person who invested in Oza’s project, the Karnataka police registered a case against Oza. The complainant invested Rs. 526 crores in projects of various organizations and groups. Of the amount, Rs 121.5 crore has been diverted to Karan Group Builders’ projects illegally, the enforcement officials said.
