Nagpur: The owner of Maharashtra Motors, a two-wheeler showroom in Shanti Nagar, has been booked for allegedly cheating eight customers of ₹4.89 lakh by promising a misleading motorcycle financing scheme involving a 50% down payment and repayment in 14 monthly instalments.

The accused, identified as Taufiq Ashrafi (35), a resident of Shakur Nagar near Chishtiya Lawn on Kamptee Road, allegedly induced customers to trust his scheme and collected down payments from them, according to the police complaint.

The complainant, Abdullah Mohammad Arif Rain (26), a human resources employee at a pharmaceutical company and a resident of Ram Sumer Baba Nagar in Kavarapeth, alleged that the accused offered a scheme under which customers could purchase two-wheelers by paying 50% of the vehicle’s cost upfront and clearing the remaining amount in 14 monthly instalments.

However, the accused allegedly deposited only a small portion of the money collected as the actual down payment with the finance company and diverted the remaining amount for his personal expenses.

The customers subsequently discovered that instead of paying 14 monthly instalments, they were required to pay 38 instalments, along with interest, to the finance company. This allegedly caused them financial losses and mental distress.

The total amount involved in the alleged fraud is ₹4,89,766.

Based on the complaint, Shanti Nagar police registered a case against the showroom owner under relevant provisions of the Bharatiya Nyaya Sanhita (BNS). Further investigation is underway.