By Accommodation Times Bureau
An Odisha based real estate developer, Durga Prasanna Mishra, director of Shree Baladevjew Infrastructure Private Limited, was arrested by Economic Offences Wing (EOW) of Crime Branch for allegedly cheating buyers of nearly Rs 5 crore, on Friday.
R K Sharma, inspector general of police (EOW), said, “We found that he has collected nearly Rs 5 crore from over 200 persons between 2011 and 2012. He failed to complete his housing project, Tulasi Garden, in Manguli and cheated people. Mishra did not even refund the money to victims.”
After receiving a number of complaints from defrauded victims, on January 31, EOW registered a cheating case against Mishra.
A duped investor, Pankaj Mohanty, said, “He assured to give us our houses by 2015. We were forced to approach the EOW when he reneged on the deal”
Another EOW officer said, “We came to know that he had set up a spice unit in Jagatpur in 2001. After making some money, he bought land in Manguli and started a real estate business. A bank had sanctioned Rs 7.95 crore loan in his favour.”