Nashik, Dec. 3 -- The Nashik Crime Branch has arrested a director of a construction firm for allegedly cheating a retired Army Colonel of more than Rs 72 lakh, an official said on Wednesday.
The accused, identified as Naresh Karda (52), director of Karda Infrastructure Company, was taken into custody by Unit-1 of the Crime Branch.
According to police, Karda orchestrated a fraudulent mortgage scheme involving a property at Deolali camp. He allegedly concealed information from flat owners and shopkeepers of the residential complex Hariniketan Phase-2 and created a fake mortgage document to obtain a loan of Rs 23 crore for his company.
Investigators said the loan was secured in collusion with a director of Capri Global.
Police stated that ...