A 37-year-old man has been arrested for allegedly cheating people of crores on the pretext of showering them with money using black magic, police said on Tuesday.
The crime branch's unit-9 arrested Mira Road resident Nishwitkumar Raviraj Shetty while he was accosting potential victims in the western suburb of Bandra on Saturday, an official said.
On searching his car, the police found a bag full of duplicate currency notes, a doll made of black cloth and other materials used in black magic, he said.
Shetty would allegedly approach investors with the promise of showering them with money using black magic, he said, adding that the accused would assure investors 50 times more returns against the invested amount, the official said.
Shetty allegedly collected crores of rupees in the last few years and when investors asked for their returns, he gave them give unsatisfactory replies and evaded them, he said.
Real estate agent Vinu Pillai, who is the complainant in the case, was cheated for Rs 1.12 crore, the official said.
On interrogation, the accused confessed that he had stored fake notes of Rs 500 and Rs 2,000 at a room in Mira Road, following which the police raided the premises and seized counterfeit currency and materials used for black magic, he added.
The police also found a fake letter from Reserve Bank of India in Pillai's name, stating Rs 67,000 crore will be deposited in his account, the official said, adding that they are investigating the accused''s claim about the involvement of a self-styled godman.
The accused, who was charged under relevant sections of the Indian Penal Code and Anti-Superstition and Black Magic Act, has been sent to police custody till January 2, he said.