Nine Duped of ₹40 Lakh in Stock Market Scam in Kalamna, Nagpur
Nagpur, India: Nine people were cheated out of ₹40 lakh in the name of stock market investment in the Kalamna police station area. The accused, Tilak Indal Shahu (35, Deputy Signal, Kalamna), promised 10% profit every month but later stopped returning the money.
Tilak worked in a private company in Bajajnagar and also conducted stock trading classes. Many people in the area trusted him because of his knowledge of the stock market.
A 30-year-old woman from Meenamatanagar was introduced to Tilak through her husband's friend. He convinced her that investing in the stock market would bring high returns. Trusting him, she invested ₹11.10 lakh. Other people also invested after seeing the initial profits.
At first, Tilak gave 10% profit every month, which made investors feel secure. But in June 2023, he suddenly stopped paying profits and started making excuses when asked about the money.
After waiting for several months, nine investors filed a complaint at Kalamna police station. The police registered a case against Tilak and sent him a legal notice on WhatsApp, as his house was locked.
Police are now investigating where the ₹40 lakh went and whether the ID cards he gave to investors were fake. One investor had also put money into Tilak’s franchise business, but it is unclear if the investment was genuine.
Authorities have warned people to be careful when investing and to verify schemes before handing over their money.
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