Nagpur: A 35-year-old man has been booked for allegedly duping multiple investors, including a woman from Kalamna, of a total of ₹40.10 lakh by promising high returns in the stock market.

According to Kalamna Police, the complainant, a 32-year-old woman from Minimata Nagar, was persuaded by the accused, Tilak Indal Shahu, a resident of Deputy Signal, to invest in the stock market between July 21, 2020, and June 30, 2023. Shahu allegedly promised a 10% profit and initially provided some returns. However, when the complainant’s husband demanded further profits, the accused started avoiding them and failed to return either the promised returns or the principal amount of ₹11.10 lakh.

Investigations revealed that Shahu used similar tactics to defraud eight other victims, collectively swindling ₹40.10 lakh.

Following a complaint filed on January 13, 2025, Assistant Police Inspector Nilesh Kulsange has registered a case under Sections 406, 420, 468, and 471 of the IPC. Further probe is underway.