Bhubaneswar: In a major success, the Commissionerate Police busted an inter-district gold fraud racket and nabbed five persons of the gang today. The cops conducted raids at many places in the city and seized Rs 20 lakh cash, many fake gold biscuits and two luxury cars from the accused.
The members of the racket used to sale fake gold to people posing themselves as Custom officials, sources said. The racketeers have swindled more than Rs 42 lakh by selling duplicate gold to gullible customers, they added.
The gang members used to make the deal by showing original gold and once the deal was done, they used to flee after taking advance from businessmen, the police said.