A conman who posed as an FBI agent and tempted naive people into frauds of millions of rupees in exchange for counterfeit US dollars, was arrested by the police on Thursday, Aaj News reported.

According to reports of a local Newspaper, the 48 year old conman, Hayat Khan, proved his legitimacy by swapping small amounts of the American currency ranging anywhere from $500 to $1,000, to gain his victims' trust and then lure them into making bigger transactions later on, where he would give them fake US dollars in return.

Hayat Khan wore a wig as a disguise and told his victims that he was a Federal Bureau of Investigations (FBI) agent and had easy access to US dollars but cannot do this business openly because of his position.

Hayat Khan was conned himself when the Islamabad police initiated a sting operation to catch him. He was arrested after the police called him to setup a meeting.

It is speculated by the police that Hayat Khan, alias, Riaz Khan has made up to $50,000 up till now.