Four arrested after Noida bizman's murder unveils currency scam
Noida: Four men have been arrested in Noida for their alleged involvement in a currency exchange scam that culminated in the murder of a 40-year-old businessman earlier this week.
The suspects, part of a well-oiled ring, used a network of rented flats, staged foreign exchange deals, and violent tactics to trap and rob currency dealers.
The suspects were identified as Ajay Kumar Sharma (48) and his son Mukul Sharma (25), both from Ghaziabad's Indirapuram, along with Akash Upadhyay (24) from Mahoba and Aryan Yadav (25) from Delhi. Police said Mukul and Akash were injured in a gunfight while attempting to flee a checkpoint near Noida's Sector 54.
Officers recovered firearms, a stolen motorcycle and cash—both Indian and foreign—worth Rs 10.3 lakh from them.
The case came to light after Ompal Bhati, a currency exchange operator from Sector 18, was shot dead in a rented flat in Sector 12. Bhati had reportedly gone there to exchange Rs 10 lakh in cash after being lured into a fake currency deal.
Police said the group's modus operandi involved scouting for currency dealers, posing as genuine clients seeking to convert foreign currency, and renting properties briefly with token deposits to stage deals.
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Once the target arrived with cash, the accused would rob them at gunpoint and flee.
Investigators revealed that Ajay Sharma masterminded the operations while his son Mukul, Akash, and Aryan surveyed and met with victims.
In Bhati's case, the group had claimed they wanted to exchange Canadian dollars worth Rs 7 lakh. Akash even withdrew Rs 3 lakh to lend credibility to the fake deal. After Bhati arrived at the Sector 12 flat, the suspects attempted to rob him, but he resisted and was fatally shot. The group contacted Ajay post the murder, who advised them to take shelter at Aryan's house in Delhi. Police say they had defrauded another exchange operator of 8,000 dirhams just before their arrest.
All four have been charged with murder, fraud, and possession of illegal firearms.
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