A $1.5 million home renovation that made a home worth $2 million
The owner of a $1 million home in Bangalore, India, has been charged with fraud and tax evasion after his company allegedly misappropriated funds to remodel the home.
In July 2017, the builder, Anand Singh, a construction company that had already built the house, was asked to submit an application to the state government to construct a $2.5-million home in the city.
The builder said he had completed the project within the deadline, but he did not include a formal inspection report, and it was unclear when the project was due to be completed.
Singh then claimed he had received a letter from the state education department stating that the project had been completed within the time limits and he could not provide the inspection report.
But when the builder returned home in July 2018, the state Education Department had found that he had not submitted the required inspection report for the home he was to build.
The inspector said Singh had misappropriaded money by taking a loan to renovate the house without paying back the loan.
The builder, who was arrested on Tuesday, has admitted to his involvement in the scheme, but the charges are still pending.
The investigation is ongoing, but Singh has been given three months to provide the state of Karnataka with the inspection and inspection report that he submitted.
The government has said it will hold a hearing on the case on March 18.