An offence has been registered against two brothers for allegedly floating a ponzi scheme and cheating investors to the tune of Rs 20 lakh in Maharashtra's Nagpur district, police said on Sunday.

Based on a complaint lodged by an investor, the police on Saturday registered a case under section 420 (cheating) and other relevant provisions of the Indian Penal Code and Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, an official said.