Nagpur: A 28-year-old building material supplier from Jaripatka was allegedly cheated of ₹35.99 lakhby cyber fraudsters who lured him with promises of high returns through investments in the gold and silver market.

Based on the victim’s complaint, the Nagpur Cyber Police have registered an FIR under Sections 318(4), 319(2), and 336(3) of the Bharatiya Nyaya Sanhita (BNS), Section 66D of the Information Technology Act, and Sections 419, 420, and 468 of the IPC.

The complainant has been identified as Sheikh Tahir Sheikh Salim (28), a resident of K.K. Nagar, LIG-01, Jaripatka, Nagpur, where he lives as a tenant. He is engaged in the building material supply business.

According to police, on April 8, 2026, the complainant received a WhatsApp call from mobile number 917249082556. The caller introduced himself as Palash Soni and claimed he could connect the complainant with reputed builders to help expand his business and earn higher profits.

During the conversation, the accused allegedly convinced the victim that investing in the gold and silver segment of the share market would generate substantial returns. After gaining his trust, the fraudster instructed him to transfer money to the bank account of Premier Trading Company.

Believing the promises, the complainant transferred a total of ₹35,99,882 through two RTGS transactions to the bank account provided by the accused.

However, despite receiving the money, the accused neither provided any returns nor refunded the investment. Realising he had been cheated, the victim approached the Cyber Police.

A case has been registered against Palash Soni and another unidentified associate identified as Chinu. Police have launched an investigation into the online investment fraud and are working to trace the accused.