A suspended police constable and his two associates have been arrested by the Kasturba Marg police for duping a Saudi Arabia-based businessman to the tune of Rs 5 lakh.

According to the police sources, the constable had pretended to conduct a fake raid when the businessman handed over Rs 5 lakh to the fraudsters as RTGS fees for getting him a loan of Rs 5 crore in Ramdev Hotel, Borivli (East) on June 15.