MUMBAI: The city Crime Branch have busted a major cheating racket and have arrested four individuals who used to duped people claiming to convert papers into US dollars in exchange of huge Indian rupees.The accused allegedly duped unsuspecting victims by using black paper cutouts disguised as US currency in a fraudulent foreign exchange scheme.Police have arrested four persons identified as Afzal Ali Riyasat Ali Syed (44), Rais Ahmed Abdul Jabbar Syed (46), Adil Sahil Khan (40), and Abidur Rahman Mohiuddin Shah (25) from a hotel in Mankhurd from where they were operating the racket.The modus operandi of the accused was to lured victims into believing they could exchange Indian rupees for a larger amount of U.S. dollars. During the demonstration, they dipped a few genuine but black-coated U.S. bills into a chemical solution, misleading the victims into thinking entire bundles of black paper were real dollars concealed similarly.On July 7 the complainants were tricked into handing over ₹30,000 in cash, after which the accused fled without delivering any U.S. currency. The victims promptly approached Mankhurd Police Station, leading to the registration of a case under IPC Sections 318(4), 61, and 3(5) as per the Indian Penal Code, 2023. The investigation was later handed over to the Crime Branch.All four accused were arrested under Section 47 of the Bharatiya Nagarik Suraksha Sanhita (BNSS), and their arrest was formally recorded. Investigators confirmed their direct involvement in the crime and further revealed that the accused had previously duped multiple victims in Mumbai, Navi Mumbai, Thane, and other areas in Maharashtra using similar tactics. The amount involved in the ongoing fraud operation is currently estimated at ₹24.7 lakh.Police have seized 42 dollar-sized black paper bundles wrapped in plastic, two genuine $1 U.S. bills, Chemical substances stored in six aluminum bottles (ranging from 500 ml to 5 liters), allegedly used in the dollar-washing trick and six mobile phones belonging to the accused and ₹30,400 in cash.The arrested accused were presented before the Chief Judicial Magistrate at the 37th Court, Esplanade, where police sought five days of custody for further interrogation. Police argued that custodial interrogation is necessary to trace the source of the counterfeit materials, identify additional accomplices, and investigate the network’s possible involvement in other similar scams.Investigators also confirmed that Afzal Ali Syed, one of the main accused, has a prior criminal case registered under Section 420 (cheating) and 34 (common intention) at Nagpada Police Station
