The accused Sanjay Kumar Sharma had taken Rs 60 lakh from 18 persons and sold flats in Baddi town in Himachal Pradesh, UT, Chandigarh police said.
However, neither he gave possession of flats to the buyers, nor did he returned their money, they said.
During investigation, it came to light that Sharma was not the owner of flats which he had promised to sell them, they said.
His bail applications were also dismissed by the lower courts as well as by the Punjab & Haryana High Court.
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