In a significant real estate fraud case in Bengaluru, Jones Property Management, also known as Jones Asset Management, has been accused of cheating over 300 individuals out of more than ₹100 crore (approximately $12 million USD). The firm, allegedly run by John Stephen, has reportedly operated as a Ponzi scheme, collecting investments from new clients to pay earlier ones. Victims were promised high returns of 2% to 4.2% per month, leading them to invest between ₹10 lakh and ₹75 lakh. Many victims, including both tenants and property owners, have come forward with complaints after the company ceased payments and became unreachable. One victim shared her experience of investing ₹37 lakh and facing eviction when the firm stopped paying rent to property owners. John Stephen has a history of similar fraud, having been previously arrested for cheating. The current investigation draws comparisons to a past housing scam involving Catena Homes, where over ₹50 crore was allegedly siphoned off. Authorities are actively pursuing the case as they seek to recover the lost funds and apprehend the accused.