Sri Lanka’s Blue Mountain property group probed: police
Friday July 12, 2019 13:41
ECONOMYNEXT- Blue Mountain, a real estate and property group in Sri Lanka is under investigation after customers made complaints alleging fraud, police said.
Borella Crimes Division is probing 24 complaints and Mount Lavinia is investigating another 9 cases.
Customers have complained saying they have paid deposits for properties but have not received deeds.
The cases related to amounts ranging around 2.5 million rupees, according to police.
Calls to Blue Mountain phone numbers were not answered.
In addition to the 33 complaints currently being investigated, court cases are currently ongoing against Blue Mountain, while several others have been settled out of court, police said.
Blue Mountain is selling land and developing apartments. It started marketing a luxury apartment called ‘Achilleion’ around the time a property bubble was developing in Sri Lanka. (Colombo/Jul12/2019)