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Currency exchange fraud in Ludhiana: Gang busted with arrest of 5
The CIA staff 1 and CIA staff 3 of Ludhiana police commissionerate arrested five fraudsters on Saturday who had duped at least four city residents of ₹11 lakh over the past 24 days on pretext of exchanging American dollars for Indian currency at cheap rates
The CIA staff 1 and CIA staff 3 of Ludhiana police commissionerate arrested five fraudsters on Saturday who had duped at least four city residents of ₹11 lakh over the past 24 days on pretext of exchanging American dollars for Indian currency at cheap rates.
The accused have been identified as Deepak Singh alias Ibrahim of Uttam Nagar, New Delhi, who is presently living at a rented accommodation at Sanjay Gandhi Colony; Ishu Kapoor of Multani Colony, New Delhi; Mohammad Ramzan and Dukhu of Kolkata; and Rafiq of Bulandshahr, Uttar Pradesh. They were arrested from Daresi area and police have recovered 200 dollars and ₹50,000 from them.
Deputy commissioner of police (DCP, investigation) Varinder Singh Brar said at least 15 members of the gang are active in the city and other states operating with the same modus operandi.
“The accused told police that they work as labourers and scrap dealers in the city and used to target shopkeepers and traders. To win their confidence, they told victims that they found the American currency from an almirah which they had purchased. They said that they couldn’t get it exchanged from money exchanges, as they ask for source of the currency,” said the DCP.
Then, they called the victims to an isolated location, handed them pieces of paper in a bag instead of dollars in exchange for Indian currency and fled.
Inspector Rajesh Kumar, in-charge at CIA staff 1, said the accused told them during investigation that they procured the American dollars from Delhi and started duping people. More important information is expected from the accused during questioning.
The accused had duped a chemist and his friend of ₹3 lakh on October 16; a shopkeeper of ₹2 lakh On October 25; a Jalandhar based trader of ₹3 lakhs on November 7 and mobile shop owner of ₹3 lakh on November 11.
