Currency Exchange Racket Cracked: Two Arrested in Delhi

Delhi Police have arrested two men, Neeraj alias Raju and Karan alias Rahul, for allegedly running a currency exchange scam. The duo duped victims by using genuine US dollars initially and later exchanged bundles of paper disguised as cash. Investigations continue to uncover more associates.

In a significant breakthrough, Delhi Police have apprehended two individuals implicated in a currency exchange scam that swindled unsuspecting victims. The two men, identified as Neeraj alias Raju and Karan alias Rahul, both 23 years old, were nabbed from Loni, Ghaziabad, according to police authorities.

The scam operated under the guise of US dollar to Indian currency exchange, where the suspects would initially use genuine currency to gain the victims' trust. They would then swap the genuine cash with bundles of paper camouflaged as money. This deceitful strategy has resulted in several recent fraud cases, including two in Delhi's Sonia Vihar, costing victims Rs 2 lakh and Rs 1 lakh respectively.

Neeraj's criminal record includes offenses under the Narcotic Drugs and Psychotropic Substances Act and the Arms Act, while Karan has past accusations of fraud and burglary. Both are suspected of involvement in numerous similar frauds across states like Uttar Pradesh, Rajasthan, Madhya Pradesh, and Maharashtra. The ongoing investigation aims to identify and capture other participants linked to this operation.

(With inputs from agencies.)