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Gang inducing people for conversion of banned currency busted

A gang of cheats, who induced innocent people for conversion of money worth more than Rs 4 lakh, has been busted and the money recovered, according to police.

On a complaint by one resident made to a PCR call alleging that he has been cheated of Rs 6.5 lakh, police formed a team to look into it and arrested four people from Jaitpur, including Badarpur.

The complainant informed police that he had been induced to get old currency notes of Rs 500 and 1,000 changed and in the process when he agreed to get his Rs 6.5 lakh of 500and 1,000 denomination changed, he was handed over a bag purportedly containing Rs. 6.5 lakhs of Rs 100 denomination. However, on checking, he found that he has been cheated as each wad in the bag had only one note of Rs. 100 at the top, he said. Following which a case vide FIR No. 651/16 u/s 420 IPC was registered at PS Jaitpur, said a police official.

On questioning the complainant and carrying out investigation, a woman was apprehended who initially misled the team but when confronted, she broke down and admitted her involvement in the crime. Further, on the basis of information provided by her, several raids were conducted at the hideouts of other co-accused persons and finally, the accused were arrested from their hideouts.

The gang members revealed that due to demonetisation of the notes of Rs. 500 and 1,000, the general public was getting impatient to get the old currency changed and taking advantage of the situation, the accused persons, hatched a conspiracy to earn huge money using this unique modus operandi of inducing innocent people to get their old currency notes changed and subsequently handing over fake money in exchange.

Further probe is on.

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