The accused, identified as Bandu Suryavanshi, Sitaram Nikam, Vinayak Shetty, Ravindra More and Shrikant Palthe, were arrested yesterday from two places in Nashik district, police said.
The victim identified as Rajendra Shevale had lodged a complaint with Chhavani police station in Malegaon.
In the complaint, the victim had said that the accused had promised to provide a job to him in Nashik Collectorate as a driver. They had collected Rs seven lakh from him from time to time between January 2016 and March 2017.
All the five accused were produced in a local court, which remanded them in police custody till April 8.
Further investigation is on.
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