Currency exchange fraud in Ludhiana: Shop owner cheated of ₹5 lakh

The victim, Rohit Kumar, 33, of Panchsheel Colony, Noorwala Road, told Ludhiana police that on November 6, one of the fraudsters came to his shop posing as a customer and offered to give him American Dollars in exchange for Indian currency at a cheap rate

Two fraudsters duped a mobile phone shop owner of ₹5 lakh on the pretext of exchanging American dollars for Indian currency.

The accused won victim’s confidence by telling him that he is not opting for official currency exchanges as they ask for source of the currency. A a case has been registered under Sections 420 (cheating) and 34 (common intention) of Indian Penal Code by the Ludhiana police. (HT FILE)

The victim, Rohit Kumar, 33, of Panchsheel Colony, Noorwala Road, told police that on November 6, one of the fraudsters came to his shop posing as a customer and offered to give him American Dollars in exchange for Indian currency at a cheap rate.

The man won Kumar’s confidence by telling him that he is not opting for official money exchanges as they ask for source of the currency.

Kumar arranged for ₹5 lakh and met the fraudster and his aide at Guru Arjun Dev Nagar. After taking the cash from Kumar, the duo handed him a bag and fled.

Rohit said he was shocked to find that the bag contained only bits of newspapers covered with two currency notes of 20 dollars.

Head constable Kuldeep Singh, the investigating officer, said that a case has been registered under Sections 420 (cheating) and 34 (common intention) of Indian Penal Code.