The director of a realty firm was arrested on Monday for cheating 10 persons after collecting 2.29 crore by promising to provide flats in the guise of pre-launch schemes.
Accused Chekka Venkata Suubrahmanyam, who is the director of Bhuvanteza Infra projects Pvt Ltd, was arrested by CCS sleuths.
Police found that he had executed sale deeds with 10 customers for flats in his project Happy Homes at Shamirpet. But he neither handed over the flats nor returned their money.
During investigation cops found that the accused also cheated 400 others by citing flats in the same project