Developer dupes 29 investors in Tilaknagar, sent to jail in Mumbai
A developer has landed in the soup for allegedly cheating 29 investors to the tune of Rs 7.6 crore on the promise of giving them flats under the redevelopment project of a Tilaknagar-based property.
The housing unit of EOW arrested director of Millennium Developers Mohan Kumar Suvarna (59), a resident of Chembur, under relevant sections of the IPC and Maharashtra Ownership Flats Act, for cheating and criminal breach of trust.
He was booked after one investor, Chandra Prakash Shetty, filed a complaint. Shetty had come in contact with the builder through one Ahmed Ali Khan, who is also an accused in the case. Khan has managed to get anticipatory bail in the matter.
Sources said between December 2010 and 2013, Suvarna had undertaken the redevelopment of Radha Madhav CHS in Tilaknagar. To sell the flats he planned to develop based on the extra FSI, he had taken money from the investors.
The police have been on the lookout for him for the last six months and managed to arrest him on Thursday.