A builder was arrested today by Economic Offences Wing (EOW) of Odisha Police for allegedly defrauding about Rs 50 crore from people under the pretext of of giving them residential land.
Crime Branch DIG, Rajesh Kumar said Narayan Nayak, the owner of Umamani Builders, had allegedly duped several land buyers in Bhubaneswar.
The EOW swung into action after receiving complaints from different investors, Kumar said adding the crime branch sleuths have launched simultaneous raids on several offices of the real estate firm.
On December 25, 2012, the EOW had arrested Hi-tech group CMD Tirupati Panigrahi and his two aides for allegedly reneging on the promise of providing residential plots to some people after taking crores of rupees from them.
