Bhubaneswar: Khandagiri police on Monday busted a fake foreign currency smuggling racket and arrested four persons from a hotel in the city. Fake currencies belonging to several countries were seized from their possession.
Among the arrested persons three hail from Karnataka and another from Gujarat, police said.
Acting on a tip-off, police raided the hotel and arrested the accused during which currencies of different countries were seized.
Police has registered a case against the accused persons under relevant Sections of IPC and forwarded them to the court.
The accused persons were allegedly inducing people on the promise of high return for investing the money on share market, said a police official. He also added that they were also involved in a fraud case to the tune of Rs 15 lakh.