The police also seized two cars and a motorcycle from their possession yesterday.
The gang kept an eye on the advertisements on the net and targeted prospective sellers who wished to sell their vehicles on Internet through different vendors, police said.
The gang members would get in touch with the prospective sellers and indicate that they were willing to sign the deal. They would then take the vehicle for a test drive and not return, the police said.
The person had wanted to sell his motorcycle through a vendor over the net and was tricked by the gang members who posed to be prospective buyers.