Bhubaneswar: A known realtor of Odisha and two of his associates were arrested here Tuesday for allegedly cheating an investor, police said.
Tirupati Panigrahi, founder and chairman of High-Tech group, a business conglomerate that also runs several educational institutes in the state, was arrested by Odisha Police.
According to the investor, he had a few years ago paid over Rs.1 lakh in instalments to a company run by Panigrahi on the assurance that he would get homestead land on the outskirts of Bhubaneswar.
Instead, Panigrahi and his associates allegedly threatened the investor, Additional Director General of Police B.K. Sharma told reporters.