Mumbai Crime: Seven cheat traders of Rs 1.2 crore in old notes, held

Police are yet to recover the money, as the eighth accused is still at large with the cash

While six accused were nabbed from the spot, one was arrested from Ganeshnagar area
While six accused were nabbed from the spot, one was arrested from Ganeshnagar area

The Charkop police have managed to arrest seven people, who allegedly cheated two businessmen of Rs 1.2 crore on the pretext of exchanging defunct currencies, but they are yet to lay their hands on the cash. While six of them were caught from the incident spot on Monday, one was nabbed from Ganeshnagar area the following day. However, the person who had the cash, managed to escape.

The arrested accused identified as Amit Soni (35), Nitin Shah (52), Bhavin Doshi (38), Mahesh Chauhan (42), Kunal Paresh (36), Rajesh Patel (50) and Ilahi Raja Shetty (50), were produced before the Borivli metropolitan court on Tuesday and then remanded in police custody.

Also Read: Three caught with Rs 65 lakh in old notes in Kurla

Plan fails
According to police, the complainant Rakesh Jain (36), who runs a garment business in Byculla east, came in contact with Doshi and Chauhan, who offered to exchange defunct currency notes worth Rs 75 lakh for new ones. They even told Jain that they knew a couple of RBI officials, who would help them in getting the work done. In the meantime, the other victim, who is a Borivli east resident, got in touch with the accused and expressed his desire to get Rs 45 lakh worth of defunct notes exchanged. The accused asked both the victims to meet them on Link Road near Orchid Residency at the same time on Monday.

Read Story: Old notes found torn in Charkop

After meeting the victims at the spot, the accused took them near Charkop police station in two separate cars and started threatening them. When they snatched the bags from the victims and tried to escape, Jain caught hold of Shetty's hand and started shouting. Hearing the commotion, cops rushed to the spot and caught six of them, while two managed to escape in a car. One of them was arrested the following day.

In custody
Speaking to mid-day, an officer from Charkop police station said, "Based on the complaint filed by Jain, we have registered a case under sections 420 (cheating and dishonestly inducing delivery of property), 395 (dacoity) and 120B (criminal conspiracy) of IPC. The accused have been remanded in police custody till February 27."

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