Bengaluru Police Commissioner B Dayananda announced on Monday that the Central Crime Branch (CCB) has apprehended five individuals and confiscated counterfeit notes amounting to Rs 30.92 crore. Dayananda revealed that the gang employed a novel method of fraud, targeting trusts with promises of securing Rs one crore through the Corporate Social Responsibility (CSR) funds of various companies in exchange for Rs 40 lakh.
“This is a new modus operandi of cheating, previously unseen despite vague information about it. The fraudsters approached trusts, enticing them with the prospect of multiplying their funds through CSR initiatives,” Dayananda informed reporters. “They would showcase large sums of cash, sometimes up to Rs 100 crore, to gain the trust of their victims. Once convinced, the trusts would hand over the cash, only for the gang to abscond. It has been discovered that numerous individuals fell victim to this scheme,” he added.
Dayananda credited the CCB’s Women Protection Wing for laying a successful trap that led to the arrest of the perpetrators. He noted that the seized fake currencies amounted to Rs 30.92 crore. Among the arrested individuals, one was previously apprehended in a gambling case in Wilson Garden, Bengaluru, while another was arrested in Mumbai for similar offenses. Dayananda highlighted their involvement in money laundering activities.
