The new note scam group, which was booked on October 14 for duping a Vapi-based road constructor of Rs 3.5 crore, had tried to cheat another businessman of Rs 4.5 crore on October 15. The businessman, however, suspected something amiss and pulled out of the deal before handing over the money, as per interrogation of the arrested accused. Meanwhile, Navi Mumbai police have named Sunil Marathe, a constable rank police personnel, as a suspect in the case. 

The scam first came to the fore after a Vapi-based businessman approached CBD Belapur police, complaining that he was duped of Rs 3.5 crore by a gang under the pretext of changing old currency notes for new ones. One of the accused had posed as an RBI treasurer. However, after taking the money from the victim, the accused staged a raid by an alleged RBI vigilance team and claimed that they seized the cash.