Mumbai: A sensational real estate fraud running into ₹17.74 crore involving forged government documents, fake MHADA allotment papers and a man posing as an Intelligence Bureau (IB) officer has been busted in Mumbai. The Economic Offences Wing (EOW) has made the first arrest in the case.

The accused, Prabhakar Shetty (70), was arrested from Karkala, Udupi district, Karnataka, and produced before Esplanade Court, where he was remanded to police custody till December 12. Shetty is accused of helping prime accused Rupesh Prabhakar Chaudhary (now deceased) dupe investors on the promise of low-cost MHADA flats.

According to investigators, Shetty played a key role by convincing several people and introducing them to main accused Rupesh Chaudhary, falsely assuring them that they would receive M

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