KOCHI: Kochi has witnessed one of the biggest real estate frauds in the recent times with the police estimating that around 200 people have been duped by real estate company, Apple A Day properties, by nearly naming 11 projects.The affected investors in the 11 projects have formed an association called 'Big Apple Buyers Association' to pursue the case against the company represented by its managing director K A Saju and director C Rajeev Kumar.When Express spoke to the association members, it was shocking to find that many of the investors had been paying EMI of Rs 10,000 to Rs 24,000 in the last three years for the flat which they had booked with the real estate company."There are presently 80 members in the association. The majority of investors are NRIs and are not aware of the day-to-day development. As we took up our agitation against the company, a lot of investors came forward to join us," said association vice-president V S Somanathan.He said the company on an average had collected an amount in the range of Rs 15 lakh to Rs 35 lakh from each individual after campaigning for the 11 projects which included 'Nano Homes' and 'New Kochi' projects."For the last three years, we have been repeatedly approaching the company officials enquiring about the progress of the projects but they put forward various excuses for the delay in completing them," he said."We have also filed a detailed petition before the City Police Commissioner against the owners of the company. We have invested our hard earned money in these projects. The majority of the investors are senior citizens. We have also decided to approach the court seeking relief," he said.A senior police official said that they were trying to trace the whereabouts of the managing director and the director who had gone into hiding after the police registered cases against them. Meanwhile, it has been alleged that the police were delaying the arrest of the accused to help them get anticipatory bails in connection with the case."The accused are trying for anticipatory bails by operating from a safe haven. We are monitoring the activities of certain police officials who are said to be helping the accused in the case," police sources said.
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