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Representational image

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.

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โ€œSaikia 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),โ€ 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.