A team led by Senior Police Inspector Vilas Supe successfully arrested Kapil Sikoriya (37) and his three accomplices—Suraj More (41), Kiran Parmar (33), and Sunny Dutta (24)—for operating a fraudulent anti-iron coin scheme. The accused, who have confessed to their crimes, were remanded into custody following an investigation.
The Naya Nagar police revealed that the group, including Sikoriya as the kingpin, duped victims across multiple cities such as Thane, Kolhapur, Vasai, Nallasopara, Chiplun, Pune, Latur, and Bhandup. They lured unsuspecting victims by falsely claiming the ability to create “anti-iron coins,” which they said could fetch high market value due to their use in scientific experiments requiring expensive chemicals.
The gang used deceptive methods similar to the infamous rice-pulling scam. Victims were convinced that these anti-iron coins could be made using rare chemicals like magnetic oil, stearic acid, sulfur, and activation powder. To appear credible, the gang would stage the coin-making process, complete with gloves, masks, and an exaggerated warning that the chemicals were dangerous and could lead to medical complications.
The scam came to light when a businessman from Mira Road filed a complaint, having been duped out of Rs50,000 by the gang after they conducted a fake demonstration at a hotel. The victim realized he had been cheated when the coins failed to deliver on their promises and lodged a complaint with the Naya Nagar police.
Further investigations uncovered that the gang had cheated two other victims in the twin city to the tune of Rs8 lakh. Police also recovered the apparatus and chemicals used in their fraudulent demonstrations.
Sikoriya and his accomplices have been charged under Sections 318(4) for cheating and 3(5) (joint criminal liability) of the Bharatiya Nyaya Sanhita (BNS), 2023. The investigation is ongoing, with further developments expected.
