A racket pushing counterfeit currency notes on the promise of loans was busted in Berhampur on Tuesday with the arrest of five people. Lured by loan promise, three persons lost Rs 28 lakh to fraudsters who allegedly gave them Rs 40 lakh in counterfeit notes in return. The incident was reported from Berhampur in Ganjam on Tuesday.
As per reports, fraudsters had lured two persons promising Rs 18 lakh loan against cash of Rs 9 Lakh. Three persons paid fraudsters Rs 28 lakh against which they received Rs 40 lakh, which were found to be fake. A complaint was lodged with the Baidyanathpur Police Station.
Acting on the complaint, police swung into action and arrested five persons involved in the racket. Two others reportedly managed to escape while police have started a manhunt to nab them.
Addressing a press meet, Berhampur SP, Saravana Vivek M said "The racket was luring people to pay cash to get twice the amount of loan in exchange. Two people from outside the state had come with counterfeit notes. Those two are absconding.”