Real estate firm Coral Reef Properties has been accused of fraud, forgery, and embezzlement in constructing a 15‑storey building in Chattogram’s Agrabad area, allegedly violating Chattogram Development Authority (CDA) regulations. The company reportedly failed to hand over promised flats to landowners, sold the same units to multiple buyers, and forged signatures to create fake contracts. Police investigations confirmed the landowners’ allegations, while the developer’s counter‑case was found baseless.
The project began in 2012 under a contract with 30 land heirs, requiring completion within three years. Despite CDA approval in 2014, the company delayed construction and withheld compensation owed to owners. Complaints also cite illegal conversion of parking areas into shops and unauthorized hotel‑style modifications. The dispute has escalated into multiple lawsuits and local tensions.
Sources said Coral Reef’s fraudulent activities extended to Cox’s Bazar, where it allegedly deceived thousands of investors through false hotel ownership promises. The company’s offices are now unresponsive, and residents fear potential violent clashes over flat ownership disputes.
চট্টগ্রাম ব্যুরো প্রকাশ : ১৭ এপ্রিল ২০২৬, ১৭: ১৯ চট্টগ্রামে রিয়েল এস্টেট প্রতিষ্ঠান কোরাল রীফ প্রপার্টিজের বিরুদ্ধে প্রতারণা, ক্ষতিপূরণ আত্মসাৎ, জাল-জালিয়াতির আশ্রয়সহ নানা অভিযোগ উঠেছে। চট্টগ্রাম উন্নয়ন কর্তৃপক্ষের (সিডিএ) আইন ও নকশা তোয়াক্কা না ক
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