India, July 15 -- They are school dropouts and unemployed, with no apparent means of income. But behind that modest facade, they ran an elaborate con - posing as money exchangers, and using word-of-mouth referrals and sleight-of-hand tricks, they duped unsuspecting victims out of lakhs. Their latest act played out like a high-stakes scam from a low-budget con movie: they left a 29-year-old accountant holding a trunkful of fake currency notes labelled "Manoranjan Bank of India" and "Full of Fun", after pocketing Rs.40 lakh from him.

The four men - Asgar Khan (30), Nikhil Srivastava (24), Prince Pal (20), and Parvez Akhtar (43) - were arrested last week from a rented flat in Saidullajab, police said on Monday. All four are from Uttar Prade...