Karamchand “Raj” Doobay has been accused of selling lots not zoned for subdivision in Jasper, Fla., and reselling the same lots to at least 29 different buyers, failing to give victims deeds, titles or other legal transfer of ownership documents. Doobay turned himself in on December 22, and his bail has been set at $1 million.
Karamchand “Raj” Doobay, 40, the owner of Florida Gateway Resort and Florida Gateway Golf and Country Club in Jasper, Fla., has been accused of selling the same plots of land to different buyers in a scheme that raked in about $2 million, the Tallahassee (Fla.) Democrat reported.
Agents with the Florida Department of Law Enforcement (FDLE) and Hamilton County Sheriff J. Harrell Reid arrested Doobay on charges of organized scheme to defraud over $50,000, the Democrat reported.
In 2014, FDLE agents began investigating Doobay at the request of the Hamilton County Sheriff’s Office after they received an allegation that Doobay was using his corporations to complete fraudulent land transactions, the Democrat reported.
Doobay allegedly sold lots not zoned for a subdivision and resold the same lots to different buyers. He also failed to give victims deeds, titles or other legal transfer of ownership documents, according to a statement issued by the FDLE.
During the investigation, detectives found that Doobay illegally sold lots to at least 29 victims netting approximately $2 million. In addition, the investigation shows Doobay sold the same lots to a number of victims, the Democrat reported.
Investigators believe there could be additional victims. Doobay turned himself in at the Lake County Jail on Tuesday. Bail has been set at $1 million, the Democrat reported.