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A retired lieutenant colonel and his associate, a builder, were convicted to imprisonment for five years and fined Rs 1 lakh each by a court in Odisha for cheating defence personnel with the promise to provide them residential plots.According to a press statement issued by the economic offence wing. the complainant and others had booked plots in the 'Defence Intercity Vatika Project' located in Bhubaneswar."During the course of the investigation, it was ascertained that "Sainik Welfare OrganisationIndia" (SWO-India), a New Delhi based NGO, having its trustee namely, accused Lt. Col. Rakesh Rana (Chairman) and three others during the year 2010, launched a plotting scheme in the name & style, "Defence Intercity Vatika Association" at Giringaput Mouza, Bhubaneswar for providing residential plots to the serving/ retired defence personnel," the statement read."The SWO-India, collected about Rs 31.57 crore from 542 numbers of defence personnel towards the cost of land, development charges and registration fees, etc. Moreover, the SWO-India represented through its chairman, Rakesh Rana, during August 2011 entered into an agreement with accused, Purna Chandra Panda, managing director of M/s Brookson Infrastructure Pvt. Ltd to purchase land for the above project," it added."However, the accused persons (Rana and Panda) in a criminal conspiracy hatched between themselves and others did not purchase adequate land to provide the same to the intending buyers as assured to them. They did not provide any land to the investors and misappropriated the entire amount collected from them," the release added.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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National :Retired colonel gets 5-year imprisonment, Rs 1 lakh fine for cheating defence personnel in Bhubaneswar

A retired lieutenant colonel and his associate, a builder, were convicted to imprisonment for five years and fined Rs 1 lakh each by a court in Odisha for cheating defence personnel with the promise to provide them residential plots. ...