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Justin Devadoss of JBJ City Developers arrested

Couple of days back, I read about the arrest of Justin Devadoss of JBJ City developers. Read the newspaper article here.

More than a year ago, I wrote sceptically about JBJ City Developers and their phenomenal growth in a short span of time. Today we find the man behind the show, Justin Devadoss being arrested by the Bangalore Police for cheating customers to the tune of Rs7.5 crores in Bangalore. I did write about the the problems faced by land owners, buyers purchasing through JBJ in my blog post. You can read about that here. I dont claim anything for forseeing what is coming the way, but definitely it did raise my alarm bells seeing how things happened with this group. To much of media coverage for the group, lofty claims on land deals, photographs with leading personalities which are typical of all dubious promoters were there to see. Good that he has been arrested now but what would happen to people who have paid money but havenot got their plots registered.

I visited their website today and still find that there are schemes which are available for participation. They have a scheme called 3P scheme (Promotional Partnership Programme) where one has to pay 10 lakhs to become a member. After 3 months, a plot would be registered in the name of the member in their Little Singapore project and after 9 months the entire money of 10 lakhs would be returned to the customer. What JBJ is getting through this scheme is 10 lakhs per member free of interest and promising a land of prosperity in return. Too good to be true.

This is another wake up call for buyers to be aware of these kind of dubious land promoters and developers. Stick to known developers and builders.


SUNDAR said...

Though the observations provided in the above narration is correct,still i am of opinion that by handling people of JBJ City Developers, we can overcome the hardships posed by JBJ City Developers.

adwait said...

So long greed exists likes of Justin Devadoss and like minded investors will exist !

Ramya said...

Every investor knew for sure they had only 50% chances of inheriting the promises of JBJ Developers - this is no investment - this is similar to the Horse race, that takes place in Race Course Road - the difference being, when they loose money they go to Police station and Court - Why should Police protection be given to foolish investors - Will the Police give protection to thousands of house wives whose husbands loose their bread on every Horse race day ?