Kumar's father Kiranpal Singh has registered a complaint in this regard at the Inchauli police station in the district.
According to the complaint, Singh had made a land deal of Rs 80 lakh with Bulandshahr district resident Ranveer Singh, who at present is in jail in a case of murder.
"The money for land had been transferred via internet banking, the land deal was going to happen on April, but Ranveer has not transferred the land in his name as yet," police said.
Accused has also refused to return the money and allegedly threatened the cricketer and his father, they said.
An FIR has been registered against Ranveer Singh and five others in this case, police said, adding an investigation is underway.
Bhuvneshwar Kumar's family resides in Meerut, at present the cricketer is in Sri Lanka with the Indian team.