The Economic Offences Wing (EOW) of the State Crime Branch on Monday arrested the managing director of city-based real estate firm Sarala Realcon Private limited for allegedly duping his buyers of Rs 10 crore by promising them prime land with patta on the outskirts of the city.
Gayadhar Jena (48) was arrested by the Crime Branch (CB) officials during a surprise raid conducted at his office at Jayadurga Nagar under the laxmisagar police limits.
CB sleuths said Jena has cheated around 250 people by collecting Rs 10 crore from them through its offices at Khordha, Patia and Jharpada.
According to the duped customers, the company had collected money in lakhs from them on false promises of good land along with pattas in Khordha district. But after a few months of the deals, the company didn’t give land documents nor returned the money and shut down some of its offices.
Earlier, the Saheed Nagar police had arrested Jena in June 2013 in a similar case. He was on bail since then.