Unitech MD, brother arrested for allegedly duping home buyers

New Delhi, Delhi, IndiaUpdated: Apr 01, 2017, 10:56 AM IST

The police allege Unitech invested the buyers' money in a shell company. Photograph:(Facebook)

Sanjay Chandra, managing director of the real estate firm Unitech, and his brother Ajay Chandra were arrested Saturday morning by the Economic Offences Wing of the Delhi Police.

The brother have been accused of duping home buyers. 

The buyers allege Unitech failed to complete the Greater Noida project they had bought flats in on time, and that Unitech did not refund their money along with interest.

The police allege the Chandras invested the buyers' money in a shell company.

The Chandras will be presented before a Delhi court Saturday afternoon.