Rs 40 lakh gone in minutes! How a Delhi man got tricked with 'Manoranjan Bank' notes in elaborate 'money exchange' fraud

A man in Delhi was duped of Rs 40 lakh by a gang posing as money exchangers. The group set up a fake currency exchange in a rented flat and handed the man a bag full of dummy notes labelled “Manoranjan Bank”.

According to a TOI report, the man met the group on July 4 in a flat at CR Park. He had arranged Rs 40 lakh to buy property and was offered a cash deal by the accused. They showed him a trunk of notes and even used a cash-counting machine to make the scene look real.

They counted a real bundle of Rs 500 notes in front of him, convincing him to transfer the money online. But after the deal, the man realised the bag was full of fake notes.

Delhi Police bust gang, recover fake money

On July 6, the victim reported the case to the CR Park police station. A team led by DCP (South) Ankit Chauhan began a probe and arrested three suspects, Nikhil (24), Prince (20), and Parvez (43), on July 9 from Saidulajab, IGNOU Road. The next day, a fourth accused, Asgar (39), was arrested.
Seizures included:

• Over Rs 1.2 crore in dummy “Manoranjan Bank” notes
• Rs 7.5 lakh in real cash
• Rs 4.5 lakh frozen in a bank account
• A cash-counting machine
• Mobile phones used in the fraud

How the scam worked

The accused used clever tricks to fool victims. The flat was staged to look like a legitimate money exchange point. A real Rs 500 bundle was counted in front of the victim. Then, using a hole in the bed, it was secretly swapped with fake bundles by a person hiding below.

The victim was handed the fake cash while the gang disappeared.

Who was involved?

Asgar, one of the accused, said he learned the scam from Nasim, a man from Bihar, who ran similar rackets across India. Each gang member had a specific role:

• Asgar found potential victims
• Parvez arranged rented flats
• Nikhil managed the display cash
• Prince assisted in operations
• Police also linked them to three other big frauds:
• Rs 1 crore scam in Tughlaqabad
• Rs 30 lakh case in Chhatarpur
• Rs 18 lakh fraud, also in Tughlaqabad

Case registered, probe continues

A case has been registered under relevant sections of the BNS. Police are still investigating and looking for other gang members involved in similar scams.

Inputs from TOI