Jabalpur (Madhya Pradesh): A man was booked for cheating two friends of Rs 70 lakh by offering them a partnership in a timber depot in Garha locality, in Jabalpur on Wednesday.
According to the police, timber dealer Sanskar Jain filed a complaint with the Garha Police Station against Shubham Gupta. Sanskar alleged that the accused took Rs 70 lakh in parts from him and his friend Ashish Jain. All transactions were done online.
The accused contacted Sanskar on September 10, 2024 and offered 50% partnership in the timber depot which he said he planned to open soon.
After Sanskar was unable to arrange the required funds, the accused told him that more partners might be included in the plan.
Sanskar reportedly convinced his friend Ashish Jain to invest in the venture. Over time, when the complainant asked Shubham about the depot, he would try to mislead Sanskar and Ashish, police said.
Sanskar alleged that he later got to know that Shubham never had any timber business. The complainant and his friend then requested the accused to return the money but he allegedly avoided replying.
Later, the accused told Sanskar that he had invested the money in the share market and had spent it on personal expenses therefore it is not possible to return the money. Sanskar alleged that the accused told him to do whatever he wanted to do.
Following the complaint by Sanskar, a case of cheating was registered against Shubham and an investigation is on, police said.
