A 32-year-old man, who had invested around Rs 20 lakh in a multi-level marketing (MLM) scheme and suffered losses after not getting promised returns by the firm allegedly committed suicide by hanging here due to depression, police said Wednesday.

The man was found hanging from the ceiling fan at his rented house here by a roommate Tuesday evening, they said.

The room was bolted from inside and the door was broken open.

The deceased, a native of Srikakulam district of Andhra Pradesh, earlier worked in an IT major company and later left the job and had been investing in the scheme run by a marketing firm for the past one-and-half years, they said.

According to his father he was depressed after suffering losses in the scheme, police added.