Reported by Santosh Jagdev
Bhubaneswar, July 31:
The Commissionerate Police in Odisha today arrested the managing director (MD) of Semax Builders Pvt Ltd. on charges of duping more than a hundred gullible investors by promising to provide residential plots to them on the outskirts of the state capital.
The accused MD was identified as Nirmal Kumar Behera of Balianta.
Acting on complaints filed by 26 duped investors, the Saheed Nagar police today arrested him for failing to provide the land and refusal to refund the advance amounts paid by the investors.
According to the Saheed Nagar police, Behera started his real estate business in 2011 and ran offices at NICCO Park and the Saheed Nagar area. He had collected at least Rs 1.1 crore from the people interested in acquiring cheap residential plots after attracting their attention through advertisements published in some daily news papers.
The investors were promised residential plots in Retang, Phulnakhara and other places.
However, the company MD Behera failed to deliver and took various pleas for not providing the plots or refunding money to the investors.
36 cases have so far been registered against Behera, who was arrested in three cases of fraud earlier .
Investigation of all these cases is in progress, said a senior officer of Saheed Nagar police station.