A team from Unit 6 of Mumbai police crime branch has busted a racket in which fraudsters lured victims with the promise of providing US dollars at attractive rates in exchange for Indian currency.

A total four men including Afzalali Riyasatali Syed (42), Rais Ahmed Abdul Jabbar Syed (46), Abidur Rehman Mohiuddin Shah (25) and Adil Sahil Khan (40) have been arrested.

The gang deceived victims by dipping genuine dollars coated with black dye into a chemical solution, creating the illusion of turning black paper bundles into real dollars, and thereby cheated them with fake bundles of black paper cut to the size of dollar bills.