Nagpur: Nandanvan Police have registered a cheating case against five persons for allegedly defrauding a Nagpur-based contractor of ₹30.09 lakh by luring him into investing in a purported property, stock market and business venture with the promise of 10% returns.

According to the police complaint, the complainant, Pawan Sheshrao Yede (34), a private contractor and resident near Bhawani Mandir, Pardi, came into contact with the prime accused in 2023 while playing cricket. The accused allegedly claimed they were involved in property dealings, stock market investments and other businesses, assuring the complainant that any investment would yield a 10% return.

The accused have been identified as Ayush Vijay Kumar Chaturvedi (29), Vijay Prakash Harinath Chaturvedi (55), Kusum Vijay Prakash Chaturvedi (50), Prakash Chaturvedi (24) of Gondia, and Vineet Chaturvedi (34) of Azamgarh, Uttar Pradesh.

Police said that on November 29, 2023, the accused allegedly visited the complainant’s office at Ratan Nagar under Nandanvan police limits and collected ₹50 lakh for investment. Initially, the complainant received periodic returns from the accused, while one of them also issued a ₹10 lakh cheque, which was successfully credited to his bank account.

However, after January 12, 2024, the accused allegedly stopped paying the promised returns. The complainant had received a total of ₹19.91 lakh, but the remaining ₹30.09 lakh was allegedly not returned despite repeated demands.

Following an inquiry based on the complainant’s application, Nandanvan Police registered an offence under Sections 420 (cheating), 406 (criminal breach of trust), and 34 (common intention) of the Indian Penal Code. Further investigation is being conducted by the police.