Cuttack, Aug 31: The Designated Court under OPID (Odisha Protection of Interest of Depositors) Act, Cuttack today convicted two persons including an ex-army man for for a land fraud worth Rs 31 crore in Chandaka.

The court convicted accused persons, Lt. Col. (retd.) Rakesh Rana and Purna Chandra Panda with sentence of RI for five years and fine of Rs 1 lakhs each and in default to undergo R.I. for 1 year. The court also has convicted the SWO-India and M/s Brookson Infra Pvt. Ltd. and sentenced them with fine of Rs 2 lakhs each.

Rana, an awardee of Kirti Chakra and others had set up an NGO named Sainik Welfare Organization in Delhi. The organisation has floated a plotted scheme at Giringaput Mouza in 2012 and have collected money. However, the investors were neither provided the land nor their money was refunded. Subsequently, a case was registered with the Economic Offence Wing (EOW) in July 2015.

The plotted scheme named as “Defence Intercity Vatika” in 27 acres of land lured investors with promise of compound wall, drainage, roads, water facility and electricity. The NGO had promised to handover the plots to the investors by June 2012 with valid documents and completing the procedure of registration and mutation of the land. The NGO had also engaged a real estate firm for development and promotion of the plotted scheme.

The organisation had collected Rs 31.57 crore from 542 defence personnel (in service and retired) on the pretext of providing them land. Sources in the EOW said that the NGO has promised 50 percent discount on plots for those getting Kirti and Shourya Chakras will get plots at 50 per cent discount.