Four persons were arrested for allegedly cheating people in Maharashtra`s Palghar district by giving them "gold coins" that they claimed were part of dug up treasure, a police official said on Saturday.

They had taken Rs 12 lakh from one victim and given him 5 kilograms of this fake gold that turned out to be metal coated with yellow paint, Senior Inspector Pramod Badakh of Crime Branch Unit III (Virar) said.