Police busted a gang that allegedly posed as police officers and attempted to rob two businessmen of ₹1 crore in cash on Sinhagad Road on Saturday. Three accused have been arrested in the case, while two others are absconding.

According to the police, the incident occurred between 1 pm and 2 pm on July 18 near Brahma Hotel on Sinhagad Road. The complainant and his associate, Kiran Apte, were travelling in a car carrying ₹1 crore in cash in two bags. They were on their way to deposit the amount at an HDFC Bank branch.

On National Highway 4 near Navale Bridge, unidentified men on a motorcycle intercepted the car. One of the men, identified by police as Ameya Karle, approached the car and falsely introduced himself as a police officer.

Vijay Ghadge, sub-inspector, said, “The accused allegedly told the businessmen they were police officers and that they knew the car occupants were carrying illegal money. Frightened by the claim, the complainant and his associate stopped the car.”

Taking advantage of the situation, Kale and an accomplice allegedly opened the car doors, threw chilli powder into the passengers’ eyes, and attempted to snatch the two cash-filled bags. However, their plan failed, and the police were alerted.