CID files charge-sheet against Yogeshwar in cheating case

The charge-sheet states that Yogeshwar cheated several people to the tune of Rs 37 lakh in the guise of allotting sites in Vajragiri Township.

CID officials have continued investigation and are likely to file an additional charge-sheet soon. The case is likely to come up for hearing shortly.

Yogeshwar had floated Mega City Developers and Builders Limited (MCDBL) to build a township. He is the Managing Director of MCDBL, while C P Gangadharesh, Mahadevaiah and H R Ramesh are Executive Director and Director respectively.

Yogeshwar had claimed that he was constructing Vajragiri township in 500 acres of land spread over Hampapura, Sheshgirihalli, Hejjal and Bannikuppe villages in Ramanagar district. He had even issued advertisements in the media. He had obtained permission temporarily from agencies concerned to build the township.

The permission was granted for 1,094 sites in 117 acres of land. An amount of Rs 40 was fixed per square feet. He had facilitated the members to pay the money in monthly installments ranging from Rs 800 to 6400. But Yogeshwar, Gangadharesh, Mahadevaiah and Ramesh misused the funds, stated the charge-sheet.

A sum of Rs 67 crore was collected from the members and Rs 37.22 crore was withdrawn from a bank for buying the land and constructing a temple and a house in Chakkere in Channapattna. The MCDBL officials did not provide account details to Registrar of Companies (2006-07).

Many members of Mega City Developers and Builders Limited Site Members Association had filed complaints with the Halasuru Gate police. Later, the case was transferred to CID.

Gangadharesh, Mahadevaiah and Ramesh are also accused in the case.

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