Mumbai (Maharashtra) [India], March 13 (HBTV): The Bangur Nagar Police Station in Mumbai has busted a sensational fraud racket, arresting two accused who allegedly swindled a businessman out of approximately INR 7 lakhs by promising to transform ordinary paper into Indian currency notes using special chemicals and powders.
The arrested accused have been identified as Pawan alias Prakash Kumar Dilip Prasad (25) and Sar alias Gajsingh Manoj Singh Prasad (47).
According to police, the complainant, Lalan Rajkumar Mahto (34), a resident of Goregaon West, was convinced by the accused that they possessed a chemical and powder capable of converting ordinary paper into genuine Indian currency notes. To gain his trust, the accused first performed a demonstration using an INR 500 note, claiming that if a large sum of money were handed over, it could be multiplied manifold and returned to him. Falling for the ruse, the complainant handed over INR 7 lakhs to the accused.
The accused then prepared bundles of paper, applied the powder to them, and packed them, assuring the complainant that after a certain period the bundles would transform into currency notes.
However, when the complainant later opened the packets, he found only plain paper. Realising he had been defrauded, he subsequently filed a complaint with the police.
During the investigation, police tracked down the accused using technical intelligence and other leads. The probe revealed that the accused were hiding in Buxar in Bihar and Ghazipur in Uttar Pradesh.
Acting on this information, a police team travelled to the locations and, with assistance from local police, successfully apprehended both accused individuals.
According to police, the accused had allegedly been defrauding people of lakhs of rupees for a long time by luring them with the false promise of manufacturing currency notes using chemicals.
Police have appealed to the public not to fall prey to inducements such as claims of transforming paper into currency notes or multiplying money, and to immediately report such incidents. The accused are currently being interrogated as police attempt to ascertain how many other individuals may have fallen victim to the gang.
(ANI)