Rajkot, June 2 : Police busted a gang of fraudsters, known as the 'Madari Gang', who duped a businessman of Rs 13 lakh in Gujarat's Rajkot on the pretext of performing a ritual.

The police of Jamkandorna village also arrested four persons and seized assets worth Rs 6.19 lakh.

The accused, identified as Jalmanath Rajunath Padhiyaar, Jognath Rajunath Padhiyaar, Prakashnath Zaveranath Padhiyaar and Zaveranath Rajunath Padhiyaar, are now in custody.

'The scam unfolded when a trader from Khajurda village was approached by four individuals posing as a guru and his disciples. The fraudsters provided the trader with a rudraksha, a sacred bead, and convinced him to participate in a ritual for personal and professional well-being. They handed over a bag supposedly containing valuable items filled with fake currency notes and toys. This incident highlights the vulnerability of individuals to superstitious beliefs and the lengths to which fraudsters will go to exploit such vulnerabilities,' officials said on Sunday.

Upon realising the deceit, the businessman reported the incident to the Jamkandorna police. The police registered a complaint and took action under sections 406, 420, 508, and 114 of the Indian Penal Code.

/IANS