Builder arrested for cheating investors of ₹2.03 crore

PUNE: The Sinhagad police have registered a case against a builder and his associates for allegedly cheating 22 investors to the tune of ₹2

PUNE: The Sinhagad police have registered a case against a builder and his associates for allegedly cheating 22 investors to the tune of ₹2.03 crore for a residential project in Dhayari in 2015.

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The arrested accused have been identified as Akash Arvind Mohite, 40, a resident of Khadi machine chowk; Sambhaji Baban Nivgune, 41; and Popat Gulabrao Nivgune, 40.

Santosh Ramchandra Salvi, 46, a resident of Janta vasahat, lodged a complaint against them stating that he had booked a flat with Mohite and made a payment of ₹10.95 lakh to him in 2015, signing a legal memorandum to avail the said flat in 11 months. However, in a breach of trust, Mohite failed to honour his commitment and went on to threaten Salvi that he would demolish the building if Salvi complained to the police.

Following their arrest, Mohite and the other accused were presented before a local court where the prosecution demanded police custody on grounds that it was a serious crime and that the police wanted to investigate further into the money trail and seize incriminating documents related to the crime. The prosecution sought seven days’ custody, citing that more investors had been cheated by the builder and his associates. The court then remanded the accused to judicial custody.