Another builder was nabbed yesterday in Bhubaneswar by the Crime Branch for allegation of land fraud amounting to Rs 50 crore. After receiving several complaints from the investors Narayan Chandra Nayak, Managing director of Umamani Home Creations was arrested by the Economic Offences Wing (EOW) of the Crime Branch of Odisha Police in this connection.
Surprisingly, senior government employees, including some Odisha Administrative Service officers are also victim of this fraud according to the Crime Brach Officials. Two expensive vehicles belonging to the accused person were also ceased from his village at Balikuda in Jagatsinghpur district.
Nayak was running housing schemes and had promised investors to handover lands on the outskirts of the city, but practically did not provide them any land.
Earlier in December last year, another big fish was trapped by the CBI. The Crime Branch arrested Hi-tech group CMD Tirupati Panigrahi for allegedly breaking the promise of providing residential plots to some people after taking crores of rupees from them.
Interestingly, Nayak was a former employee of the Hi-Tech Group as per reports. However, While Hi-Tech Group was targeting the middle-class people, Nayak fooled the customers as per the allegation. CBI is also looking in to cases of some other builders under suspicion, in the capital city of Odisha.