Mahipal Singh arrested by UP EOW over ₹100cr Karmabhoomi scam
Business
Mahipal Singh, director of Karmabhoomi Real Estate, has been arrested by Uttar Pradesh Police's Economic Offenses Wing for allegedly running a ₹100 crore investment scam.
Singh and his team promised to double people's money or offer cheap property deals, but ended up cheating investors across several districts.
Karmabhoomi co-directors still sought
Between 2011 and 2015, Singh and five co-directors reportedly took crores from people in Mathura, Kanpur, and beyond, without delivering on any promises.
While Singh now faces legal action, the hunt is still on for the other five directors.
The case is a big reminder to stay sharp when it comes to "too good to be true" investment offers.