Sun Dec 14 15:43:34 UTC 2025: Here’s a summary of the text and a rewritten version as a news article:

Summary:

A 61-year-old man in Bengaluru has filed a police complaint against two directors of Akarmaxs Tech Pvt. Ltd. and a real estate agent, alleging they cheated him out of ₹17.5 crore in a real estate transaction. The man sold a property to the directors in November 2022, but the four cheques issued for payment bounced. Despite repeated requests, the accused have failed to make the payment and allegedly resorted to threats. The Banashankari police have filed an FIR, but the case remains with the city police despite typically being handled by the CID for offences exceeding ₹10 crore.

News Article:

Bengaluru Businessman Claims ₹17.5 Crore Real Estate Scam

Bengaluru, December 14, 2025 – Bengaluru police are investigating allegations that a 61-year-old man was defrauded of ₹17.5 crore in a real estate deal. The complainant alleges he was cheated by Sneha Rakesh and Rajath Venkatesh, directors of Akarmaxs Tech Pvt. Ltd., and real estate agent Robin Francis.

According to the First Information Report (FIR) filed with the Banashankari police, the man sold a 16,990 sq. ft. property in Banashankari 2nd Stage to the Akarmaxs Tech directors on November 23, 2022. The sale was facilitated by Robin Francis.

The accused allegedly issued four cheques to cover the ₹17.5 crore transaction. However, all four cheques bounced due to signature discrepancies. Despite repeated attempts by the complainant to secure payment, the accused allegedly failed to remit the funds, offering various excuses and ultimately resorting to threats.

Police have filed an FIR under IPC Sections 406 (criminal breach of trust), 420 (cheating), 506 (criminal intimidation), and 120B (criminal conspiracy).

While cases involving economic offences over ₹10 crore are typically handled by the Criminal Investigation Department (CID), this case remains with the city police. An investigator stated that they have requested more information from the complainant, but have yet to receive a response. The investigation is ongoing.

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