Odisha police have dismantled a sophisticated fraud gang involved in two major cheating cases in Bhubaneswar, causing a combined loss of Rs 10.5 lakh. The cases were registered at Nayapalli and Bharatpur police stations after victims were duped by a fake currency exchange scheme promising to double their money.
On February 15, 2025, Binod Kumar Swain, 35, from Jaydev Vihar, filed a complaint after losing Rs 6 lakh at his residence. The gang convinced him to exchange Rs500 notes for double the amount in old Rs100 notes. Similarly, on February 14, Chhabi Behera was cheated of Rs 4.5 lakh at Baramunda Bus Stand.
Five accused have been arrested: Siku Anil Kumar Mistry (37) from Sundergarh, Chandan Dilip Singh (48) and Batakrushna Pradhan (55) from Cuttack, and Tutu Chitaranjan Das (40) and Mamata Samal (40) from Angul. Police recovered cash, eight mobile phones, and bundles of paper cuttings disguised as currency.
The gang targeted unsuspecting individuals in public places, building trust by promising to double money through exchanging Rs500 notes for “black money” Rs100 notes. They would hand over bags filled mostly with paper and a few genuine notes, instructing victims to check at home before disappearing.
Police warn the public to be cautious of strangers offering financial deals and to report suspicious activities immediately.
