Bhubaneswar, June 17 : The Economic Offence Wing (EOW) of the Crime branch has arrested a fraudster of Nayagarha from Bhubaneswar for cheating approximately Rs 1.16 crore for providing flats.
EOW sources here on Friday said the accused Amaresh Chandra Sarangi of Nuagan Barabati village under Fategarh, Police station of – Nayagarh district was arrested from Bhubaneswar on June 16 u/s 420/ 406/467/468/471/120- B IPC r.w Sec 6 of OPID Act.
The accused will be produced before the court on June 17.
It said a case has been registered on the basis of a complaint filed by one Prakash Panda against the accused and three others on the allegation of cheating to the tune of Rs. 1,15,82,550 to the complainant and many others on the pretext of Providing Flats in their Project “Basera Fresco” at Sijua, Bhubaneswar.
During investigation it was found that complainant Prakash Panda and his brother Subha Shankar Panda booked a 3BHK flat in ‘Basera Fresco’, Sijua, a project of Basera Designs (P) Ltd. for Rs 41, 50, 000.
As per the agreement a flat was allotted to the Complainant with the condition that the flat would be handed over within June 30,2017. A Housing loan of Rs 32, 00, 000 was availed by the complainant from the bank and a tripartite agreement between the Bank, Builder and the complainant was also
made in which the present accused was a witness.
Then, the Bank released Rs18, 50,000 which was credited to the Account of “Basera Designs Pvt. Ltd.” But ,the accused persons neither handed over the Flat nor did they return the amount received from the complainant.
The accused persons closed down their office at Bhubaneswar and absconded.
In the similar manner, the accused persons have also cheated many other investors to the tune of Rs. 1,15,82,550 on the pretext of selling flats in the “Basera Fresco”.
The arrested accused is also the Director of ‘Cottage Design Pvt. Ltd’ and ‘LX Max Developers Pvt. Ltd apart from being the proprietor of ‘Sadangi Traders’. There are many diversion of funds from “Basera Designs Pvt. Ltd” to the A/c of ‘Sadangi Traders’
The MD and Directors of “Basera Designs Pvt. Ltd” have also previously cheated many other gullible investors to the tune of Crores of Rupees in the name of providing flats in their different projects. A case has also been registered earlier in this context and the accused persons are still absconding.