A brass trader’s daughter allegedly masterminded an armed robbery at her own house here with the help of her lover and his associates, looting Rs 1.2 crore in cash to fund a luxurious lifestyle, police said on Thursday.Addressing a press conference, Senior Superintendent of Police Satpal Antil said five people, including the trader’s daughter and her lover, have been arrested in connection with the robbery that took place under Nagphani police station area on Monday.Police said Rs 47.24 lakh in cash, illegal firearms and two cars used in the crime have been recovered from the accused.The robbery took place at the residence of brass trader Mohammad Imran in Akbar Compound area, where armed assailants held the family hostage at gunpoint and decamped with Rs 1.2 crore in cash.During investigation, police found that the trader’s daughter, Areeba, had allegedly shared information about the cash kept at home with her lover Arshad Warsi, following which the robbery was planned and executed with the help of his associates.Police said preliminary interrogation revealed that the accused wanted to become rich overnight and live a life of luxury using the looted money.The arrestees were identified as Areeba, Arshad Warsi, Ravi Kumar, Nikki and Kuldeep.Police said further interrogation is under way to recover the remaining cash.