The police arrested Kaushik on charges of cheating and forgery. (Representational)
A property broker was arrested after he passed off bundles of receipts as wads of notes worth Rs 65 lakh to a seller, the police said on Sunday.
A senior police officer said property dealer Naresh Kaushik was a broker in a deal for the sale of two shops at Rs 1.23 crore, a part of which was to be given in cash.
Mr Kaushik showed the property owner Rs 65 lakh in cash at his house, but after registration of the sale deeds for shops in Ghaziabad, the accused allegedly handed over to him bundles of bogus receipts wrapped in a red cloth.
The seller lodged a complaint with the police, which raided Kaushik's residence and recovered cash worth Rs 64 lakh from him, the police said.
The police also arrested Kaushik on charges of cheating and forgery, he added.