Builder, son dupe investors of Rs 5cr, arrested

MUMBAI: The Panvel police have arrested a builder and his son for allegedly cheating more than 200 investors of a total of Rs 5 crore by promising them budget plots in Navi Mumbai.
Narendra Mehta alias Raj Mehta (58) and his son Raunak (23) have been remanded in police custody till February 27.
Complainant Nilesh Gangurde, a clerk with the 37th metropolitan magistrate, said “They promised me a 376 sqft plot at their Vichume projects in Panvel.I paid Rs 2.50 lakh through cheque and Rs 50,000 in cash.”
The Mehtas took the investors to the site and allegedly told them that the plot had been bought from Manoj Phadte, a farmer, for Rs 2.5 crore. Phadte told cops the Mehtas had paid him only Rs 60 lakh.