A team from Unit 6 of the Mumbai Police Crime Branch has busted a sophisticated racket where fraudsters lured victims with promises of exchanging Indian currency for US dollars at attractive rates.
Four men, including Afzalali Riyasatali Syed (42), Rais Ahmed Abdul Jabbar Syed (46), Abidur Rehman Mohiuddin Shah (25), and Adil Sahil Khan (40), were arrested for their involvement in the scam.
The gang’s modus operandi involved dipping genuine US dollar bills coated with black dye into a chemical solution, creating the illusion of converting black paper bundles into real dollars. They then cheated victims by handing over fake bundles made of black paper cut to the size of dollar bills.
The case was registered on July 8 after police received information about the gang operating from Shivkrupa Hotel Residency, Room 109, near T-junction, Mankhurd, Mumbai. Acting swiftly on the tip-off, officers including PI Bharat Ghone, PI Sawant, API Dhutraj, and API Chikne conducted a raid and arrested the accused along with incriminating materials.
The police seized 42 bundles of black paper, four 5-liter cans and one bottle of chemical solution, six used mobile phones, and cash totaling Rs 30,400.
