Bhubaneswar: The economic offences wing (EOW) of the state crime branch today arrested a realtor for allegedly duping 150 investors of more than Rs 50 crore on the pretext of providing them plots in and around the state capital. Police said Santosh Jena, the managing director of Creative Asset Developers Private Limited, had been operating since 2010.
The firm had its head office at Siripur and it promised buyers land at Pipili, Kateni and Argul on the city outskirts, among other places.
“I had invested around Rs 25 lakh to get a plot on the city outskirts. But, Jena’s firm did not give me the land on time. When I insisted on refund, Jena gave me a bank cheque which bounced,” alleged Bijay Sarangi, a real estate investor.Jena had flown to Dubai on a forged visa to avoid the investors when they started demanding refund. On being caught in Dubai for using fake papers, he was deported to India and was arrested by Delhi police upon arrival there. “He was also lodged in Tihar jail for the visa fraud,” said an EOW official. Jena returned to Bhubaneswar only a few months ago and was arrested this morning from Jagamara. The police also plan to bring Jena under remand for his alleged links with money deposit collection company Flourish India Limited. “We suspect Jena of purchasing land from the Ponzi firm to provide plots to the investors. We have already attached the land of the Ponzi firm,” said a police officer. “The duped investors lodged a complaint earlier this month when they got neither the plots they were assured of nor any refund,” said an EOW official. Dreaded criminal Lambu Tarini was arrested in a police encounter near a forest at Bhaliapalli under Soroda block in Ganjam district on Sunday evening. Tarini, against whom around 30 cases had been pending, got admitted to MKCG hospital in Berhampur. The police have seized a pistol and seven bullets from him.]]>
