Nagpur: Nandanvan Police have registered a case against a 45-year-old shop owner for allegedly defrauding 346 people of approximately Rs 1.85 crore under the guise of investment returns.

The accused, identified as Kishore Prabhakar Amrutkar, a resident of Vrindavan Nagar near KDK College Road, runs a store named Prabhav General Stores at Dadaji Dhuniwale Chowk, Old Bagadganj.

Between January 11, 2022, and October 20, 2024, Amrutkar allegedly collected funds from the complainant and others, promising lucrative returns through various schemes like “Bhisi” and recurring deposits (RDs). Offering a 10 percent return, he initially gained the trust of investors by occasionally returning money when requested, leading more people to invest.

However, Amrutkar is now accused of defaulting on repayments and misleading investors with promises of higher returns. According to the complaint, he fraudulently acquired around Rs 1.85 crore from the complainant and others and then ceased repayments.

Following the complaint, a case has been filed at Nandanvan Police Station under BNS Section 318(4). Cops are currently searching for the accused.