Bhubaneswar: The Economic Offences Wing (EOW) of Odisha Crime Branch on Tuesday arrested the managing director of a real estate company, Z-Infra Construction Private Limited, for allegedly duping more than 300 persons of Rs 12 crore.
The arrested was identified as Prasanna Kumar Patra (46).
According to available information, Patra had swindled an amount of Rs 12 crore from more than 300 persons between 2010 and 2013 for providing them housing plots with all amenities at Kansapada near IIT-Bhubaneswar under Jatni tehsil of Khurda district.
Even after receiving payment from investors, Prasanna had not acquired the land meant for selling them. Later, he registered the land in the name of a few investors, which lacked approach road and other facilities.
Based on a complaint filed against the accused by one Manoranjan Mishra of Bhubaneswar, the investigating agency registered a case and arrested him.
However, the accused has been sent to jail after he appeared before the special chit fund court.
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