A gang of four, two of whom are lawyers, has been busted for allegedly cheating more than 150 people across Mumbai, Thane and Palghar of Rs 3.75 crore by promising them flats seized by banks at low cost. Their racket was busted by the MBVV police on Tuesday, and the gang members were apprehended.

According to the police, the gang operated luxurious offices in various locations and with different names, and hired fresh graduate students to work as telecallers. They procured details of prospective buyers from websites that deal with buying and selling real estate. The telecallers lured buyers by offering cheap properties.