Bengaluru, May 18 -- A major real estate fraud involving more than Rs 200 crore has come to light in Bengaluru, where people searching for houses on lease were allegedly cheated by a private intermediary firm promising rental support and investment returns.

The case involves a company named Johns Asset, against which allegations of cheating more than 300 people have surfaced. The firm's owner, Stephen John, is currently absconding, according to police.

Based on complaints filed by victims, the Indiranagar Police Station has registered a case and launched a search operation to trace the accused.

According to investigators, the company allegedly exploited the shortage of lease houses in Bengaluru by targeting people looking for accommoda...