Govt keen to bail out victims of Rs 500 cr fraud

The Government has decided to constitute a committee under the chairmanship of NRI cell Deputy Chairman Ganesh Karnik.

Chief Minister Yeddyurappa, who also heads the NRI cell, in its meeting on Tuesday, said that the Bangalore police arrested Joseph Chacko with the help of NRIs. During his last visit to the Gulf countries, many NRIs approached him with an appeal to help them get justice.

“The Government has decided to constitute a committee to address their problems. Besides NRI cell deputy chairman, representatives of Home and Revenue departments will be in the committee. The State has to win the confidence of the NRIs by helping them get justice,” he said.

49 cases

Chacko is believed to have cheated more than 1,500 NRIs to the tune of Rs 500 crore. So far, the cell has received 49 cases from NRIs settled in the Gulf countries.

“Roughly, more than 1,500 NRIs have been reportedly deceived by Chacko. While some did not get site for the money paid, many investors were provided with fake documents. In few cases, he took huge money from the NRIs making false promises,” Karnik said.

Chacko’s trap

Chacko, a native of Kerala, hosted a party for a senior official in Dubai to win over the confidence of the NRI community. That served his purpose.

Many fell into his trap and invested money eyeing properties in Bangalore and surrounding areas. He purchased land at many places but did not allot sites to the investors, he said.

The proposed committee would serve as a forum for the NRIs to get their grievances redressed. Officers of Revenue and Home departments would verify their complaints and the State would offer them what the best it could, he said.