Guwahati Man Arrested For Cheating Flat Buyer To the Tune Of Rs 80 Lakhs

He was produced before the court on November 15th, 2019 and is sent to 3 days police remand


The sleuths of the Bureau Of Investigation Economic Offences(BIEO) have arrested a man on charges of property fraud in Guwahati.

As per reports, the accused identified as Milan Saikia is a resident of the Beltola area in Guwahati. He was allegedly involved in several fraudulent activities and cheated the public on the pretext of selling flats, apartments.

The incident came to light after an FIR was lodged by the Union Bank of India(UBI), Chandmari Regional Office in the month of September this year against Milan alleging fraudulence against the Bank. Based on the complaint, a preliminary inquiry was instituted and a case was registered vide BIEO PS Case no 13/19 u/s 120b/406/420 of the Indian Penal Code against the accused.

During the investigation, it was revealed that the accused had sold off a flat at Luis Regency in Guwahati’s Hatigaon to a property buyer at the rate of nearly Rs 80 lakh which was under mortgage with the UBI.

The buyer had eventually availed a loan of Rs 50 lakh from the Bank against the equitable mortgage of the said flat and without paying off the loan, Milan had sold off the flat to the victim lady cheating both the bank and the buyer who had unsuspectingly purchased the flat from him.

The police have informed that he was brought from Arunachal Pradesh on November 14th, 2019 and placed under arrest in this case.  He was produced before the Court today and is sent to 3 days police remand.

Further investigations are going on to ascertain more details.

Photo: Vivek Sanganeria