Ludhiana trader duped of ₹4.5 lakh in currency exchange deal

Handed fake notes after fixing deal for ₹4.5 lakh in exchange for $16,0000 with a youth named Surjit Singh, say police

Lured by a deal to exchange $16,000 for just ₹4.5 lakh left a currency exchange trader with just a bundle of fake notes.

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The trader, Ankit Kharbanda, a resident of Azad Nagar, Shimlapuri, told the police that on April 11, a youth named, Surjit Singh, visited his shop to exchange of $16,000 for Indian Rupees.

While the exchange amount came out to be over ₹12 lakh, Surjit said he needed the money urgently and settled for ₹4.54 lakh.

Ankit said Surjit took him to Harcharan Nagar, saying his NRI aunt lived there and had the $16,000. Surjit then asked him to bring the Indian currency notes to a liquor vend at Kashmir Nagar on GT Road.

On reaching the spot, Surjit took the money and handed him a bag containing $16,000.

But on opening the bag, Ankit said, he was shocked to find shredded paper and fake currency notes in it.

He raised the alarm and tried to chase Surjit, but he managed to escape on his Honda Activa (PB10-EU 3292).

Police later found the scooter abandoned on a road and discovered that it had been sold multiple times.

Investigating officer Gurjeet Singh said they had booked Surjit and his five accomplices for cheating and criminal conspiracy, and raids were on to nab the accused. “We are scanning the CCTV cameras in the areas that Ankit visited with the accused to trace him,” he added.