Thane man cheated of Rs 2 lakh in currency exchange fraud

Thane (PTI): A 35-year-old man has allegedly been duped of Rs 2 lakh by three persons in a US dollar exchange fraud in Maharashtra's Navi Mumbai township, police said on Monday.

One of the accused had approached the victim, a resident of Dombivli in Thane district, claiming his relative wanted to exchange some USD notes. On May 12, the accused showed the victim bundles wrapped in a handkerchief that appeared to contain US currency near a hospital in Kalamboli, they said.

Believing the notes to be authentic, the victim handed over Rs 2 lakh in cash, after which the accused fled.

The victim later found that the bundles handed over to him were actually paper rolls and soap bars, with a single dollar note pasted on top to make them appear genuine, according to the police.

Following the victim's complaint, the police registered a case on charges of cheating under the Bharatiya Nyaya Sanhita.

A probe was underway into the case, the police added.