India, July 7 -- A businessman in his 40s was cheated of Rs.40 lakh by an unidentified person, who allegedly lured him into an investment scheme, promised to double his returns within a short span and hoodwinked him by giving a suitcase filled with counterfeit notes that turned into powder upon contact, in CR Park, police said on Sunday.

In the incident that took place last week, the complainant alleged that the accused showed him a bag full of money to gain his trust.

"Not only did the accused lure him with promises, but he also showed him cash in a bag. The victim believed him and gave him Rs.40 lakh. After two days, the accused returned with a suitcase and gave it to the complainant, saying the returns on the investment had come and ...