Money-doubling scam in Odisha: Miscreants give counterfeit notes worth over Rs 40 lakh, loot Rs 28 lakh cash

Berhampur: Police have busted a money-doubling scam in Odisha’s Berhampur City and arrested five members of the gang who allegedly looted Rs 28 lakh cash from two businessmen after handing them counterfeit notes worth over Rs 40 lakh.

Informing about the racket in a press meet today, Berhampur Superintendent of Police (SP) Dr. Sarvana Vivek M said that the accused persons had opened a company in the name of ‘Trade Profit Fund.’ Recently, they met two businessmen of Berhampur and managed to convince them to invest in the company assuring to double their money in few days.

The accused persons handed over counterfeit notes worth over Rs 40 lakh (as many as 8000 notes in the denomination of Rs 500) to the businessmen and looted Rs 28 lakh cash from them, the SP said.

Police started an investigation after a complaint was filed by the victim businessmen. In course of probe, five members of the gang (all from Odisha) were arrested, the SP further said.

Efforts are on to trace and nab other three members of the gang who are currently absconding, informed the SP adding that they are from outside the state.

Police have seized the counterfeit notes worth over Rs 40 lakh, five mobile phones and two bags from their possessions. Further probe is underway.

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