Fraud real estate company directors arrested
Bhubaneswar: The Economic Offences Wing has arrested directors of a fraudulent real estate company. Sudhanidhi Patnaik and Abanikanta Mishra of Appolo Infra Project were arrested today for cheating large number of investors.
Based on the report of complainant Nihar Ranjan Nayak against the company under Odisha Protection of Interests of Depositors (in Finanical Establishments) Act 2011, police arrested the directors today. It had been alleged that the company through Managing Director Deepak Kumar Mohanty collected Rs 7,50,000 from Nayak in 2010 for providing a plot. But the company neither gave him the plot not refunded the amount. Allegations of the company collecting Rs 61 lakhs from Nayak’s friends and relatives have also surfaced.
During investigation police has established that the directors had collected upto Rs 3 crores from customers on false promises of giving plots. Earlier, accused Deepak Mohanty was arrested on November 29 and forwarded to Court. The directors arrested today have also been forwarded to Court.
Police said the investigation of the case is continuing.