Bhubaneswar: The Economic Offences Wing (EOW) of Odisha Crime Branch on Tuesday arrested the Managing Director of Z-Infra Construction Pvt Ltd on the charges of land fraud. The EOW officials apprehended Prasanna Kumar Patra for cheating more than 300 buyers in the pretext of providing plots in a low price with all amenities.
Investigation by the EOW sleuths revealed that Prasanna Patra had collected about Rs 12 crore from the potential buyers between 2010 and 2013 to provide house plots at Kansapada area near IIT-Bhubaneswar in Jatani. Even after receiving the payment, the accused had not acquired the land meant for selling to the investors.
On being pressurised by the investors, the accused registered land in the name of few buyers though the plots were sans approach road and other amenities promised earlier.
He had also misappropriated the amount of few investors without registering the land. After collection of the money, the plots were never handed over to the buyers nor the money refunded.
EOW registered a case in July 2018 under the Odisha Protection of Interests of Depositors (OPID) Act after complaint by one Manoranjan Mishra of Bhubaneswar. Meanwhile, the accused was forwarded to the OPID Court in Cuttack today.