2 Arrested For Duping Man Of Rs 5 lakh In Odisha’s Bhadrak Promising Rs 20 lakh In Exchange

Bhadrak: Police arrested two fraudsters in Odisha’s Bhadrak district on Tuesday for allegedly cheating a man of Rs 5 lakh by promising him to give Rs 20 lakh in exchange.

The accused have been identified as Bulu Pati of Jitanaga block in Bhadrak district and Priyaranjan Nayak aka Kuna of Kaudakola village under Mahanga police limits in Cuttack district.

According to sources, victim Narayan Sethi, reportedly got a call from an unknown number on February 16 and was told that there was a shortage of Rs 500 currency notes in the market and so a scheme had been launched which he can avail of and increase his money by four times. He was further told if he gives them Rs 5 lakh with currency notes of Rs 500 denomination, he would get Rs 20 lakh in exchange with Rs 100 and Rs 50 denominations.

Sethi met the miscreants at the Chandikhole-Paradip road toll gate and gave them Rs 5 lakh of Rs 500 denominations in cash. In return, the fraudsters gave him a box and said it had Rs 20 lakh in Rs 100 and Rs 50 denominations as promised. After the fraudsters left, Sethi tried calling them and found their phones switched off. He then opened the box and found there were only a few Rs 100 and Rs 50 notes on the top of the box which was mostly filled with sand.

“The accused lured my brother. My brother was convinced that there was a scarcity of Rs 500 currency note in the market and called me if I could also arrange some. But they cheated him and gave him a box filled with sand instead,” Sethi’s brother told media.

Based on Sethi’s FIR, Bhadrak police began a probe leading to the arrest of Bulu and Priyaranjan. According to Bhadrak Police, the miscreants have fooled many more persons.

“The accused prepare a list of persons whom they can fool and lure them by offering two, three, or four times the money in exchange. They invite the person to meet them near Chandikhole and give a box exchange. The victims later find out that they have been cheated,” Bhadrak SDPO Sourabh Ota told media.