The accused Santosh Kumar Jayprakash Singh (53) had allegedly offered flats in proposed Krishna Complex at Talegaon in Khalapur taluka
Photo for representational purpose
Singh did not construct any flats and fled with the money, the official said.
An FIR was registered against the accused under sections 420 (cheating) of the IPC and relevant provisions of the Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale, Management and Transfer) Act (MOFA) of 1963, he said.
Based on a tip-off, Singh was nabbed from Panvel on Tuesday and has been remanded to police custody till November 6, the DCP said, adding that the Economic Offences Wing will carry out further probe.
Navi Mumbai police commissioner Bipin Kumar Singh has appealed to home buyers who have booked flats in the Krishna Complex to get in touch with the police department, the official said.
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