MUMBAI: Two men were arrested by the Bangur Nagar Police from Uttar Pradesh for duping a Mumbai-based businessman of Rs 7 lakh by offering to convert plain paper into currency by applying certain chemicals and powders on it. The accused were identified as Prakash Kumar Gupta, 25, and Rajsingh Prasad, 47. The 34-year-old complainant lives in Goregaon West. In Dec 2025, the accused met him in Vasai , using fake identities. They gave him a demonstration of their skills, “converting a Rs 500 note into two notes” using certain chemicals and powders. After using the notes in the market to make purchases, the complainant was convinced.On Feb 12, the accused visited the complainant’s home in Goregaon. They offered to double his Rs 7 lakh. They then applied chemicals and powders on bundles of plain papers and wrapped them in brown paper. The two parcels of plain papers were handed over to the complainant and the accused left with his money. Later, on realising that he had been duped, the complainant approached the Bangur Nagar police. An FIR was registered. Police learnt that Gupta hailed from Buxar in Bihar and was a labourer while Prasad was an unemployed UP native.Both men were holed up at Gazipur in UP. Bangur Nagar Police took the help of UP police to track them down and arrested them. They were brought to Mumbai and remanded in police custody till March 14 by a local court.
