Police on Tuesday arrested seven people in connection with a cash heist at Gokaku in Belagavi district. Two of them are suspected police personnel from Maharashtra.
The gang was involved in luring traders and businessmen with the promise of creating currency notes using sheets of white paper.
Their modus operandi was to collect huge sums from business victims and promise to double that amount.
When they gathered at a particular place to witness the doubling process, a couple of policemen ambushed them and the accused escaped.
Police sources said the gang operates in two to three states.
Investigators found paper, chemicals and a printer.
A case has been registered.
Superintendent of Police K. Ramarajan said the accused have been sent to judicial custody. The investigation is ongoing.
Published – 17 March 2026 20:04 IST
