Two arrested for real estate fraud in Odisha

Bhubaneswar, June 14 :

The Economic Offences Wing (EOW) of Odisha Crime Branch (CB) today arrested and forwarded two  directors of a city-based realestate company for duping the buyers of at least Rs 2 crore after promising them plots in and around the city at a reasonable rates.

The accused were identified as Chandrasekhar Pati and Niranjan Pati, directors of a realestate company Ascend Creation Pvt. Ltd. The duo was arrested from their corporate office at IRC Village under Nayapalli police limits here.

During the search operation, EOW officials seized several important documents, computer hard discs and two costly four wheelers. The city office of the company has been sealed.

EOW sources said the duo, running the realestate company in the city since 2007, had been offering small plots in and around the state capital by collecting small monthly installments from the buyers. However, they failed to keep their promise.

“We have received 100 complaints from the duped buyers who have not got any land and their number is increasing day-by-day,” DIG CB Rajesh Kumar informed.

The DIG further said the duped buyers who have received land were provided with fake documents and not given possession of the land.