A major housing fraud case has come to light in Pune, Maharashtra, where more than ₹2 crore allegedly collected from homebuyers was diverted through unauthorized channels. Three individuals associated with a residential project have been booked on allegations including cheating, forgery, and criminal conspiracy. Investigators say the suspected financial irregularities occurred between August 2024 and March 2026 and are now the subject of an extensive probe.
The case relates to the Ganga Fernhill residential project in Pune’s Undri area. According to the First Information Report (FIR), a portion of the payments made by customers for flats and parking spaces was allegedly transferred to private bank accounts instead of being deposited into the company’s official accounts. Preliminary findings also suggest that some payments were accepted in cash without being properly reflected in the company’s financial records.
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The Private Account Diversion Scheme
The three accused named in the case are former senior sales manager Simon Rony Peter, customer relationship management (CRM) team member Vikram Sadashiv Abnave, and Gurugram resident B. Chandrashekhar. Investigators allege that the accused worked together to handle customer funds outside the company’s authorized financial system and route payments through unofficial channels.
The alleged fraud came to light after a member of the sales team alerted company management about suspicious payment transactions. Following the complaint, the company launched an internal investigation, which reportedly revealed that several homebuyers had deposited money into a private bank account rather than the company’s designated account for property purchases. Investigators also found indications that certain payments had been accepted in cash and were not properly accounted for in official records.
Fabricated Receipts and Forged Seals
During the internal inquiry, authorities allegedly discovered that customers had been issued receipts resembling genuine company documents. These receipts reportedly carried fake seals and fabricated details, creating the impression that the payments had been officially acknowledged by the company. Investigators believe that the use of such documents may have prevented many buyers from realizing that their payments had not reached the company’s accounts.
Another key aspect of the case involves alleged manipulation of digital records. According to the complaint, false payment entries were reportedly created within the company’s CRM system for certain flats. These entries allegedly enabled temporary possession letters to be issued even though the corresponding payments had not been received by the company. Authorities further suspect that records were later altered in an attempt to conceal the discrepancies and avoid detection.
CRM Software Records Under Forensic Scrutiny
Investigators have now begun a detailed examination of bank accounts, digital records, payment receipts, and documents related to affected buyers. Transactions involving more than 30 flat purchasers have already been identified as part of the investigation. Officials believe the number of affected customers could increase as the probe progresses and additional records are reviewed.
Financial crime specialists note that real estate transactions often involve large sums of money and multiple stages of documentation, making strong internal controls and transparent payment systems essential. Any misuse of customer databases, digital accounting systems, or payment platforms can result in significant financial losses and long-term legal consequences.
Impact on Real Estate Sector Trust
Renowned cybercrime expert and former IPS officer Prof. Triveni Singh said that digital records, payment systems, and customer databases have become the backbone of transparency in the real estate sector. He noted that when internal systems are allegedly misused to create false entries or customers are provided misleading documents, the damage extends beyond financial losses and directly impacts consumer trust. According to him, digital audits, banking trails, and forensic analysis of electronic evidence play a critical role in uncovering the true flow of funds and establishing accountability in such cases.
The investigation remains ongoing, and forensic examination of relevant documents and digital evidence is underway. If the allegations are proven, the case could emerge as one of the significant real estate fraud investigations in recent years. Meanwhile, affected homebuyers are hoping that the inquiry will establish a complete trail of the funds involved and ensure that those responsible face appropriate legal action.
