India, Aug. 13 -- Days after a group of men, impersonating police officers, allegedly extorted Rs.29 lakh from a 40-year-old tax consultant after abducting and threatening him on July 20 with a staged encounter, five people were arrested on Wednesday, police said.

Police recovered Rs.24.5 lakh in cash and also jewellery worth Rs.4.50 lakh, which suspects had used to take a loan from a gold loan non-banking finance firm. Besides, two cars, seven phones, a fake police uniform and a pair of Delhi Police Civil Defence uniforms were also recovered from their possession, said officials.

According to police, the five men, residents of Noida, Delhi, Mathura, Deoria and Etah, were arrested from Greater Noida West.

"Investigation found that one ...