Nagpur, Feb 25 (PTI) A case has been registered against a man for allegedly duping investors of Rs 2.8 crore in a chit fund scheme in Maharashtra's Nagpur district, police said on Sunday.

The accused, Ramneet Singh alias Saab Rajinderpal Singh Lamba (34), a resident of Kashmiri Gali, is absconding, an official said.

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The accused had allegedly duped people by promising them lucrative returns if they invested money every week in a chit fund scheme, he said.

The victims invested in the scheme from 2019 to 2022 and handed over the money to the accused, who provided them signed receipts, the official said.

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When the investors approached the accused once the term period ended and demanded their returns, the accused started giving them evasive replies and later threatened them, he said.

A case has been registered under sections 420 (cheating), 406 (criminal breach of trust) and other relevant provisions of the Indian Penal Code and Prize Chits and Money Circulation Schemes (Banning) Act, 1978, the official said.

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