Blue Mountain issues fraudulent deeds

Blue Mountain issues fraudulent deeds

Blue Mountain issues fraudulent deeds

Written by Staff Writer

10 Jul, 2019 | 9:56 pm

Colombo (News 1st): Chairman of the Blue Mountain Company revealed to News 1st yesterday (July 09), that even though over 300 customers paid in full for plots of land purchased from the company, ownership deeds for said properties are yet to be handed over. The Chairman himself confirmed that he is currently evading the Police.

Two directors of the company are currently under remand custody in relation to complaints filed by parties from around the island. The complaints pertain to the allegation that ownership deeds have not been given although payments for the properties have been made in full.

The allegations stem from a property in Yakkala, which was auctioned by the company. Some customers had settled the full fee for the properties, but it was revealed that the same property had been put up for auction by a commercial bank recently. The commercial bank goes on to state that this is because the company failed to secure the property from a mortgage agreement.

While the Chairman of the company states that only 300 of 1500 properties are due their deeds, a document received by News 1st reveals that less than 400 deeds have been issued between June last year and January this year. Further, it was revealed that some of these deeds were fraudulent.

Customer Shehan Munasinghe notes that in 2016, he invested in a property at City of Palaces by Blue Mountain in Horana by paying an initial down payment. He added that they have all the documents with regard to it and in March 2017 they received a deed. However, he noted that last year they approached a bank for a home loan, but were told that the whole property had been mortgaged for Rs. 120 million. He said this shows clearly that the deed they were given is fraudulent and illegal.

Given that the company has criminally destroyed the mutual trust of more than a 1000 people, should the Chairman of the company not face the legal consequences of such actions?

Inspector General of Police, for your attention

Latest News

Are you interested in advertising on our website or video channel
Please contact us at [email protected]