Lucknow : In a major breakthrough in an ongoing real estate scam, the Joint Director of HK Infravision, a Lucknow-based land development firm, Madanram has been arrested from Ballia for allegedly duping soldiers and civilians of crores of rupees under the false promise of land ownership.
The accused is charged with defrauding numerous buyers—many of them defence personnel—by selling them plots in a housing scheme named “Kanha Upvan Valley.” Despite collecting large sums over the years, the company failed to hand over possession of the promised plots, leading to widespread outrage among victims.
19 Bank Accounts Frozen, Luxury Cars Seized
According to ACP Rajneesh Verma, the police have taken swift action by freezing 19 bank accounts belonging to the company, with deposits totaling ₹15 lakh. In addition, several high-end vehicles—including an Innova, Tata Safari, Swift Dzire, and Bolero—have been seized as part of the assets acquired through fraudulent means.
Growing Number of Complaints from Aggrieved Soldiers
The scandal came to light after 19 victims, many of them retired or serving soldiers, filed a formal FIR at the Mohanlalganj police station, accusing the company’s directors of cheating and breach of trust. The affected individuals reported that despite repeated assurances, no physical possession of the plots was ever granted.
Network of Deceit Within the Company
This arrest follows the earlier detention of another company director, Pramod Upadhyay, around 25 days ago. During interrogation, Madanram revealed that Pramod and Vinod Upadhyay, also named in the case, are his acquaintances from the same village. He admitted that he was lured into the company with promises of quick profits and became an active participant in the fraudulent scheme.
The third accused, Vinod Upadhyay, remains absconding, and a search operation is currently underway to trace his whereabouts.
Fraud Targeting the Trust of the Armed Forces
The incident has sparked widespread concern, especially due to the emotional and financial trust placed in such housing schemes by members of the armed forces, who are often seen as soft targets by fraudulent developers.
Authorities have assured that strict legal action will be taken against all those involved and that efforts are being made to recover assets and secure compensation for the victims.
The HK Infravision scam is yet another grim reminder of the growing number of real estate frauds across the state and underscores the need for stronger vetting and regulatory oversight in the property sector.
