Kalaburagi
A shocking case of financial fraud has surfaced in Kalaburagi, where a businessman reportedly lost property worth crores after being lured by a gang promising central government subsidy benefits. The victim, identified as Basavaraj Marathur, trusted the group and pledged his property to a bank, only to be left bankrupt and devastated.
According to reports, a seven-member gang approached Basavaraj claiming they could help him obtain a 90% government subsidy for a textile business. Convinced by their story, he mortgaged property worth several crores in the supermarket area of Kalaburagi and secured a loan of ₹3.35 crore. However, once the money was released, the accused — identified as Sharanbasappa Patil, Chandrakala, Kiran, Vijayalakshmi, and others — disappeared without a trace.
Due to non-payment of the loan, the bank has seized Basavaraj’s property and initiated auction proceedings. The victim’s family has alleged that certain bank officials were also involved in the conspiracy, claiming the funds were diverted directly to the fraudsters’ accounts instead of legitimate suppliers.
Basavaraj, now facing severe financial distress and health problems, said his family has been pushed to the brink of despair. “If we lose this property, we will be forced to live on the streets,” they lamented. The distraught family has appealed for justice and demanded a thorough investigation into both the gang and the alleged role of bank staff in the scam that robbed them of their livelihood.