Man held for cheating people with bogus notes, fake gold

Thane, Nov 7 (PTI) A man was arrested after Thane police busted a racket aimed at conning people with bogus currency notes and fake gold biscuits, an official said on Friday.

The accused used these items to lure victims into making small investments expecting high returns, Deputy Commissioner of Police (DCP) Prashant Kadam told reporters.

"The probe began on a complaint filed at Kapurbawdi police station by Nitesh Harishchandra Shelke, who was promised return of Rs 3 lakh within three weeks on an investment of Rs 1 lakh. Based on a tip off, we held Sanjay Kumar Pakaudilal Bharti on November 3. We found currency notes bearing the imprint Bharatiya Bachcho Ka Bank, 38 biscuits resembling gold etc," he said.

His associate is on the run and efforts are on to nab him, the DCP added. PTI COR BNM