Four foreigners have been arrested on suspicion of swindling two people out of about 5.4 million yen through a scheme dubbed "black money," police said Friday.

The swindle has been reported by law-enforcement authorities worldwide. Con artists typically convince victims that black pieces of paper are dyed $100 bills that can be restored to their original state by treating them with a certain chemical.

Police said the arrests mark the first time the scheme has been uncovered in Japan.