Jayesh Tanna, a 56-year-old builder and director of Sai Siddhi Developers, is now in the custody of the Economic Offences Wing (EOW) of the Mumbai police. The EOW arrested Tanna in connection with the ninth case against him, where 27 individuals were collectively defrauded of Rs 40 crore in a Goregaon project.
Tanna, along with two other directors of Sai Siddhi Developers, is accused of luring victims and engaging in fraudulent activities. The EOW has registered nine cases against him, invoking the Maharashtra Control of Organised Crime Act (MCOCA). Tanna was previously held at Arthur Road jail in connection with eight other cases. The allegations include Tanna selling flats to third parties without the consent of the original flat owners. The most recent FIR, filed in October, pertains to the Goregaon Pearl Co-operative Housing Society. According to the FIR, a homebuyer named Bhavin Barot booked a flat worth Rs 1.07 crore with the promise of possession by January 2013. However, possession was not granted even by 2016, and disputes between Tanna and tenants were cited as the cause of delay. In 2018, the redevelopment deal was terminated, leading to the housing society filing an arbitration case against Tanna.
The EOW officer stated, “In 2012, Sai Siddhi Developers intended to redevelop a project called ‘Goregaon Pearl Co-operative Housing Society.’ Since then, the complainant and other victims invested money, but they did not receive possession of the flats within the promised time. The victims did not get possession, and the accused misused the amount they invested.” Tanna, already in Arthur Road jail, faced further custody after the EOW sought additional time for investigating bank transactions.
