Police said the arrested has been identified as Chinedu Sunshine and interrogation is on.
The arrest came on a complaint by Musheer Azam Saifi, a shopkeeper in Sarojini Market, that Sunshine came to his shop on June 20 with an offer to make huge money from a technique in which a original currency can be developed from a black colour paper.
"He also demonstrated the process and developed four currency notes of Rs 500 from black colour currency note size paper. Later, Saifi asked the Nigerian to accompany him to his house in Jamia Nagar and handed over Rs 3 lakh to the accused asking him to double the money," Ajay Chaudhry, Additional Commissioner of Police, South-East district, said.
After putting the money in a briefcase with some black paper and chemicals, the Nigerian asked the shopkeeper to keep the said chemical in the fridge as it was not working.
Since the process failed, the Nigerian left his home after giving him the suitcase with Rs 3 lakh.
"The complainant got suspicious and opened the briefcase by unscrewing the hinges at the back of the suitcase and found only some black paper in the suitcase. There was no money in it," he said.
Saifi waited for the accused to come to his house as he had promised him to come back after making arrangement of the chemical and for taking further payment of Rs 7 lakh.
Yesterday, when Sunshine came to his house, he was overpowered by the complainant and others after which the foreigner was arrested.
