Nagpur, Apr 24 (PTI) Police in Maharashtra’s Nagpur have arrested a man and booked another for allegedly duping a businessman of more than Rs 4 crore in the trading of thermo-mechanically treated (TMT) iron bars, officials said on Thursday.

The alleged fraud took place between May and December 2024, an official of Kalamna police station in Nagpur, where the case was registered, said.

As per the complaint filed by Syed Farhan Syed Firoze (30), a trader and a resident of Yavatmal, he came in contact with the two accused, identified as Murtuja Yusuf Shakir (42) and Shirin Shakir (69) who posed as traders and gained the complainant’s trust by offering TMT iron bars lower than the market price.

“They initially supplied material at discounted rates to the victim. Over a period of eight months, the accused received a total of Rs 4.31 crore from the complainant for the supply of iron bars. However, instead of delivering the goods, the accused sent fabricated invoices and fake ledgers to show the dispatch of material that was never delivered,” he said.

After realising that he has been duped, the complainant approached the police and lodged a complaint.

Based on the investigation, a case was registered under various sections of the Bharatiya Nyaya Sanhita (BNS).

Shakir has been arrested, he said, adding that search for the other accused was on. PTI COR NP