CHENNAI: The Anti-Land Grabbing Unit of Avadi city police on Saturday arrested two builders for allegedly cheating a retired police officer. The accused had signed an agreement with the retired cop and failed to honour the terms, police investigations revealed.

The complainant, A K Dhayanidhi is a retired police officer. According to his complaint, a private firm entered into an agreement with him for building apartments on the 3504 square feet of land belonging to him at Mangadu.

As per the agreement Dhayanidhi will receive 40 per cent of the share and the builders will receive 60 per cent.

He also executed a power of attorney to the builders. While the builders sold off two apartments to different buyers, they failed to pay the amount as agreed upon. Even after Dhayanidhi cancelled the power of attorney, the builders sold another flat to one Murugan. In entirety, the builders have sold the land for Rs 1.20 crore and did not give the share to Dhayanidhi, police investigations revealed.

On Saturday, Police arrested the builders- V Shivaraj, 47 and K Loganathan, 54 of Valasaravakkam on charges of cheating. They were produced before a magistrate and remanded in custody.

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