A fraud worth ₹29.76 lakh has been uncovered in Nagpur’s Nandanvan area, where a man allegedly cheated several locals by promising lucrative returns on stock market investments.
The accused, Manish Dilip Katkar (36), allegedly duped residents of New Diamond Nagar between November 12, 2021, and August 29, 2023. He introduced himself as a stock market trader and persuaded victims to invest money with the assurance of 8% returns.
The primary complainant, Deepak Murlidhar Shivankar (39), along with four others – Sunil Madankar, Kamlesh Raut, Venkatesh Giripunj, and Nilesh Mankar – transferred ₹29,76,183 to the accused through RTGS and Google Pay. However, the accused failed to deliver the promised profits and did not return the invested amount.
Based on Shivankar’s complaint, the Nandanvan Police have registered a case under Section 420 of the Indian Penal Code.