Nagpur, India: A businessman from Besa has fallen victim to a major investment scam, losing ₹1.42 crore to a man who claimed to be the son of a prominent political leader. The Beltarodi police have registered a case of fraud in connection with the incident.

The accused, identified as Chetan Ramu Wankhede, aged 44, is a resident of New Shukrawari, Ganeshpeth. According to the complaint, Sanjay Chauhan, a cosmetics trader, met Chetan during a religious outing with his family. During their interaction, Chetan introduced himself as someone well connected in political and business circles, particularly in Madhya Pradesh’s tourism and infrastructure sectors. He also claimed his family owned a subsidised school on Wardha Road.

Trusting his background and connections, Chauhan initially lent Chetan ₹50,000, which was repaid with a slight profit. Encouraged by this, Chauhan and his relatives invested a total of ₹1.42 crore in cash and online transfers, believing they would receive high returns.

However, when they started asking for their money back, Chetan began to delay and avoid repayment. As Chauhan investigated further, he learned that several others had also been cheated by Chetan using the same tactics.

When pressure mounted, the accused absconded. Chauhan then filed a complaint with the Economic Offences Wing, and based on their findings, a formal case was registered at Beltarodi police station on Saturday.

Police are continuing their investigation and have appealed to other possible victims to come forward.