Realtor cheats residents of Rs 110 crore

According to the petitioners, GMG real estate, a private finance firm and real estate business establishment which has been running in Salai Road, was launched by brothers Murugesan, Muthu, and Mahendran in 2008. 

Meanwhile, in 2015, the company has launched a couple of new schemes such as property scheme and interest based schemes. The firm with their attractive schemes have collected money ranging from Rs 50,000 to several lakhs from the thousands of people from across the central region with assurance of returning a property when their instalment amount gets matured. 

However, all of a sudden, the firm was found closed since February 2, 2017. As the customers who had deposited money with the firm could not reach the proprietors, a complaint was lodged against the GMG real estates with Economic Offense Wing police personnel of the city recently and they had registered a case against the owners too.