Builder arrested for duping home buyers of Rs 2 crore in bhubaneswar.
Cutack: A real estate developer was arrested by Mancheswar Police in Bhubaneswar on Wednesday for duping home buyers of Rs 2 crore. The builder has been identified as one Arun Patnaik.
As per reports, Patnaik, the CEO of Maa Santoshi Real-estate, swindled more than Rs 2 crore from the home buyers by promising them to provide flats.
The matter came to the fore while the police were investigating a case against him which was registered earlier for duping a buyer of 20 lakh rupees.
The police are investigating the case. It is suspected that the extent of the scam can go up to a staggering Rs 20 crore.
In last October, the Economic Offences Wing (EOW), Bhubaneswar had arrested Manoj Kumar Panda, one of the accused Directors of M/s Odyssa Home & Commercials Pvt. Ltd. a Real Estate company, on the charges of duping an employee of TCS and other investors to the tune of Rs 20 crore.
The investigation had revealed that the Directors of the accused company had collected around Rs 20 crore from 42 investors between 2013 and 2016 on the pretext of providing them flats. The company had promised to complete the flats by 2018.