India News | Mumbai Police Nabs Two in 'turn Paper into Currency' Scam Case
Get latest articles and stories on India at LatestLY. The Bangur Nagar Police Station in Mumbai has busted a sensational fraud racket, arresting two accused individuals. The accused had swindled a businessman out of approximately Rs. 7 lakhs by deceiving him with a false promise to transform ordinary paper into Indian currency notes using special chemicals and powders.
Mumbai (Maharashtra) [India], March 13 (ANI): The Bangur Nagar Police Station in Mumbai has busted a sensational fraud racket, arresting two accused individuals. The accused had swindled a businessman out of approximately Rs. 7 lakhs by deceiving him with a false promise to transform ordinary paper into Indian currency notes using special chemicals and powders.
The arrested accused has been identified as Pawan alias Prakash Kumar Dilip Prasad (25), Sar alias Gajsingh Manoj Singh Prasad (47).
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According to the police, the complainant, Lalan Rajkumar Mahto (34), a resident of the Goregaon West area, 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 a Rs. 500 note, claiming that if a large sum of money were handed over, it could be multiplied manifold and returned to him. Falling for this ruse, the complainant handed over Rs. 7 lakhs to the accused.
The accused then prepared bundles of paper, applied the powder to them, and packed them up, assuring the complainant that after a certain period, all these bundles would magically transform into currency notes.
However, when the complainant later opened the packets, he found nothing inside but plain paper. It was then that he realised he had been defrauded and subsequently filed a complaint with the police.
While investigating the case, the police tracked down the accused using technical intelligence and other leads. The investigation revealed that the accused were hiding in Buxar (Bihar) and Ghazipur (Uttar Pradesh).
Acting on this information, a police team travelled to these locations and, with the assistance of the local police, successfully apprehended both accused individuals.
According to the police, both accused individuals had been defrauding people of lakhs of rupees for a long time by luring them with the false promise of manufacturing currency notes using chemicals.
The police have appealed to the public not to fall prey to any such inducements, such as transforming paper into currency notes or multiplying money, and to immediately report any such incidents to the police. Currently, the police are interrogating the accused and attempting to ascertain how many other individuals have fallen victim to this gang. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)