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One Assam-based real estate businessman was arrested by the sleuths of Bureau of Investigation (Economic) Offences (BIEO) from Arunachal Pradesh on Friday.

Identified as Milan Saikia, he was arrested for selling a flat fraudulently to a woman in Guwahati.

“Saikia sold the lady a flat for Rs 80 lakh at Luis Regency in Hatigaon area of the city, which was actually mortgaged with the Union Bank of India (UBI),” reported The Assam Tribune reported.

In September this year, the UBI lodged an FIR with the Chandmari police station and the arrest was made based on this FIR.

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