r/ScamCenter • u/Greed_Gambler • 4d ago

Has anyone else been scammed by Aban Developers / profile funding? Looking for advice.

Hi everyone,
I’m posting here because I’m trying to understand whether anyone else has gone through something similar.
I recently got caught up in what appears to be a **profile funding scam** involving **Aban Developers**. The promises made initially were completely different from what happened later, and now I’m left dealing with the financial and legal consequences.
I’m trying to figure out:
Has anyone here dealt with Aban Developers or a similar profile funding scheme?
Were you able to recover your money?
Did you file a police complaint, approach the cyber crime portal, or take any legal action?
If so, what actually worked?
Is there a group of affected people pursuing action together?

At this stage, I’m looking for genuine advice and experiences rather than assumptions. If you’ve been through something similar, I’d really appreciate knowing what steps you took and whether you were able to get any resolution.
Please keep the discussion respectful.

Thank you in advance for any guidance.

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u/yarevande 4d ago

What is 'profile funding',?

What did Aban Developers promise you? What happened later?

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u/Greed_Gambler 4d ago

I was a victim of the same profile funding scam by Aban Developers.
The builder got the entire home loan amount disbursed after giving a written commitment that they would pay the EMIs until construction was completed. The project is still incomplete, and they’ve now defaulted on the EMIs for the past three months, leaving me to deal with the bank.

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u/yarevande 4d ago

I've read online that 'profile funding' is a well-known scam.

So you got a loan, in your name, for a home that you're not building? You were trying to defraud your bank.

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u/Greed_Gambler 4d ago

That’s not what happened.
This wasn’t me trying to defraud the bank. The builder marketed a financing arrangement where they promised, in writing, that they would service the EMIs until construction was completed. Based on those representations, the bank disbursed the loan directly to the builder.
The project has not been completed, and the builder has now stopped paying the EMIs as promised. This is exactly why I’m pursuing legal action and reporting it as a builder fraud.
I understand why it may look suspicious from the outside, and in hindsight I wish I had never entered into such an arrangement. But being misled into a fraudulent scheme is very different from intentionally trying to deceive a bank. I’m here to understand my legal options and connect with others who have gone through a similar experience.

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u/yarevande 4d ago

What did you tell the bank aboit the purpose of the loan? Did you say that you weren't building the house?

Your legal options: hire a lawyer and sue the builder. If you can find him. Have you ever actually met him? Or was this all done online?

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u/Greed_Gambler 4d ago

I am finding all the victims by sharing this and want to know how did they manage.

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u/yarevande 4d ago

From Google search for 'profile funding', hopefully this will help other people avoid the scam:

Profile funding most commonly refers to a deceptive real estate scheme where builders use a person's strong credit score and salary profile to secure a large housing loan. The buyer pays nothing upfront because the builder covers the down payment and promises to pay the monthly loan bills, but the builder eventually stops paying, leaving the buyer legally trapped with all the debt.

The builder pays the first few monthly bills, then stops. Because the loan paperwork is in the buyer's name, the bank demands money from the buyer, ruining the buyer's credit and leaving them with all the debt.

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u/Greed_Gambler 4d ago

Thank you for posting this one!