Sachin Naik, the owner of Dreams GK, who conned hundreds of crores of his customers, has been arrested by Madivala Police, Bengaluru. He will be kept under judicial custody till December 14. 


Naik was running real estate business under multiple fraud names, like Dreams GK, TGS real estate, Send my Gift, Daily and other hoax companies since several years, and in all the companies his wife was appointed as CEO. 


It is alleged that he had taken lakhs of rupees from customers in advance and had not allotted flat to a single customer.


In his advertisements in newspapers, websites and other media outlets he propagated more than 40 township plans and apartments in and around Bengaluru, none of which exist anywhere in the city. 


He used to show plots and apartment buildings under construction that belonged to other people in HSR layout, Bellanduru, Anekal, Electronic City and other areas and was collecting advance from the customers as well as from NRIs.


He organised fests and parties for the customers and invited Bollywood stars and VIPs to lure the customers and prove his credibility. Hrithik Roshan, Governor Hans Raj Bhardwaj, former Lokayukta Justice Bhaskar Rao and others were his guests in various events. 


He had his corporate office in Koramangala Teacher’s colony. Apart from deceiving unsuspected customers, he also deceived his own partners, and more than 1500 people had lodged complaints against him in Madivala Police station. 


Currently, all the employees of his company have absconded. The police have kept him in a confidential place and are interrogating.