Varanasi, Aug 28 (PTI) Two people were arrested for duping people of Rs 300 crore on the pretext of doubling their money, police said on Sunday.

Varanasi Police Commissioner A Satish Ganesh said Arunesh Sita used to dupe people by claiming that he will double their money in four years, and had also floated a company.

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On Saturday night, Sita was arrested by Varanasi Police from Lucknow, while another member of his gang Balchand Chaurasia was arrested from Ballia.

Cases have been registered against the accused in Bihar, Madhya Pradesh, West Bengal, Chhattisgarh and other states in addition to those lodged by the Economic Offences Wing of Uttar Pradesh, Ganesh said.

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The gang bought land, hotels, restaurants and other properties with the Rs 300 crore and also made films in Hindi, Bhojpuri and Marathi, Ganesh said.

The team, which has made the arrest, will be awarded Rs 50,000 cash prize, he said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)