Police Arrest 12 in Black Money Scam Targeting Innocent Victims
A black money scam promising huge returns in exchange for cash has been busted after police arrested a 12-member gang accused of cheating unsuspecting people. Acting on a complaint, officers uncovered a well-planned operation that allegedly used fake currency and bogus police raids to rob victims.
The fraud appeared convincing at every stage. That was the gang's biggest weapon.
Black Money Scam Operated Through Fake Currency Offer
According to the police investigation, one of the accused would contact prospective victims over the phone and claim to possess nearly Rs.2 crore in unaccounted cash that needed to be converted into legitimate money.
The caller allegedly offered an attractive deal, promising Rs.40 lakh in exchange for Rs.10 lakh. Believing the offer, victims were persuaded to arrive with cash at a location fixed by the gang.
Once the victim handed over the money, another gang member allegedly delivered a bag filled with fake currency notes, making it appear that the promised amount had been exchanged.
Fake Police Raid Used to Rob Victims
The operation did not end there.
As per officials, several members of the gang, dressed in fake police uniforms, would suddenly arrive and stage a raid. They allegedly accused the victim of being involved in counterfeit currency dealings and claimed the victim was linked to wanted criminals.
Using intimidation, the accused allegedly seized the victim's cash before fleeing the spot. The carefully coordinated act left victims with fake currency while the gang escaped with genuine money.
Complaint Led to Police Investigation and Arrests
The matter came to light after Gangadhar Reddy, a resident of Proddatur, lodged a complaint with the police after allegedly falling victim to the fraud.
Based on the complaint, investigators launched a probe and identified the people involved in the racket. The case was registered, and all 12 accused were arrested during the operation.
Police said they seized around Rs.18 lakh in cash, 16 mobile phones, fake police uniforms, and three cars believed to have been used in the commission of the offence.
Investigation Continues
Officials said the investigation is continuing to determine whether the gang targeted more victims using the same method. They are also examining the seized material and collecting additional evidence as part of the ongoing police investigation.
The latest update in the black money scam case highlights how fraudsters exploited the promise of quick profits while using fake police identities to execute the crime. Police have urged the public to remain cautious of such offers and report suspicious approaches to the authorities.