CCB arrests Skyline MD for swindling apartment buyers

The managing director of Skyline Construction and Housing Private Limited and Kalmane Koffees, was arrested by the Central Crime Branch (CCB), for swindling over 200 people to the tune of Rs 100 crore in sale of apartments.

Avinash Prabhu was nabbed following a complaint filed by Christopher Regal, one of the victims, at the Hennur police station.

Considering the magnitude of the case, the city police commissioner T Suneel Kumar, handed over the investigation to the Central Crime Branch (CCB).

Prabhu, along with his brother Dhiraj, floated many under-construction apartments, namely Skyline Aurora 100, Skyline Retreat 87, Skyline Ocatia, Skyline Villa Maria, Skyline Waterfront, Skyline Blueberry and Best House in Mangaluru. The accused had taken nearly 90% of the amount in advance, but, never handed over the apartments to the buyers.

The accused had taken money from potential apartment buyers, but, left the construction work midway, said a senior police officer. The amount received was then invested in 11 coffee outlets across the city. The accused made huge returns from their investment in the coffee outlets, and were leading a lavish life, said the police officer.

The CCB officials raided Prabhu's house and office on Thursday, and collected all the relevant documents. The police also seized Prabhu's Range Rover and Audi. 15 bank accounts of Prabhu's in various banks were frozen henceforth.

Preliminary investigation revealed that Prabhu has purchased five acres of land in Kengeri, three acres in Allalasandra, three acres in Hennur, seven acres of land in Kanakapura and 8.5 acres of land in Mangaluru. He also purchased property in and around the state, and also in Chennai, the officer said.

However, Prabhu's brother Dhiraj Prabhu, managed to escape soon after the arrest of his brother. Efforts are on to trace him.