Three realtors held for duping investor

Nagpur: Three real estate businessmen Vijay Shelke, his brother Nischay Shelke and Mahendra Gavai have been arrested by the Economic Offences Wing (EoW) of the crime branch for allegedly duping an investor by over Rs7 lakh. The three have been remanded in police custody till August 13.
It’s learnt the three realtors had floated a couple of firms and lured several investors promising Rs2.16 lakh annually as returns by cultivating aloe vera at a farmland in Samudrapur of Wardha district. The three had claimed that they would produce aloe vera gel and the profit would be distributed among the investors.
The trio had lured the victim investor to pay for the development and cultivation charges as a part of the investment formalities. They had allegedly promised to transfer the land in the name of the victim after the payment, but later did not formalize the deal leading to the registration of the offence.