📷 Image: Wikimedia Commons / Prince Roy
Crime
Police bust currency-doubling fraud gang, 9 arrested after duping over 100 victims
✍️ India Today
🗓 23 Aug 2026, 11:34 PM
👁 4
A criminal gang that promised to double money was arrested by police after swindling more than 100 people, with nine members taken into custody.
Police officials announced the seizure of a fraud network that had been luring individuals with a promise to double their cash within a short span. The operation, carried out across several locations, resulted in the arrest of nine suspects believed to be the core members of the gang.
The scheme involved convincing victims that a simple transaction would instantly double their deposited amount, often citing fabricated documents and fake testimonials. Over 100 people reportedly handed over cash to the conspirators, only to find the promised returns never materialised.
Investigators say the arrested individuals are now facing charges of cheating, criminal breach of trust and fraud under the Indian Penal Code. The police have begun a detailed probe to trace the flow of the collected money and to identify any additional accomplices.
In a statement, the local police urged the public to remain vigilant against similar get‑rich‑quick offers and to report any suspicious financial propositions to the authorities promptly.
The scheme involved convincing victims that a simple transaction would instantly double their deposited amount, often citing fabricated documents and fake testimonials. Over 100 people reportedly handed over cash to the conspirators, only to find the promised returns never materialised.
Investigators say the arrested individuals are now facing charges of cheating, criminal breach of trust and fraud under the Indian Penal Code. The police have begun a detailed probe to trace the flow of the collected money and to identify any additional accomplices.
In a statement, the local police urged the public to remain vigilant against similar get‑rich‑quick offers and to report any suspicious financial propositions to the authorities promptly.