Faith Builders
Faith Builders

BHOPAL: As the news of I-T raids on Faith Builders broke, several stories related to investment of serving and retired police officials and bureaucrats started doing rounds.

According to sources about a dozen bureaucrats including seven IPS and four IAS officers has invested in various projects of the Faith Builders owned by Raghvendra Singh Tomar.

People who know Tomar well say that he got advantage of his family background as his father Parmal Singh Tomar was an IPS officer who retired as IG. He had family relations with several senior IPS officials and he convinced several of them in his projects.

The investments made by officers range from minimum Rs 2 crores to some investing up to Rs 50 crores, say sources.

‘Most of the bureaucrats like to invest in the state capital during their stay here. Several also intend to settle down in Bhopal after retirement. Raghvendra’s proposals and flexibility in payment conditions for such officers were quite attractive,’ said a senior bureaucrat.

However, others suggest that Raghvendra’s projects were used by several officers to invest their unaccounted money. He also helped them to convert their black money into white. ‘Confidentiality plays important role in such dealings. This was the main reason why officers preferred his projects,’ he added.

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Free Press Journal