Mumbai, November 5: Three persons were arrested for allegedly posing as Income Tax officials, duping a Pune resident of Rs 20 lakh and giving him dummy currency used in children's board games, Mumbai police said on Saturday.

The accused had contacted victim Ramdas Ballal claiming they had Rs 40 lakh in cash, which had been seized in IT raids, and wanted to exchange this amount with him, an official said. Online Fraud: 40% Indians Defrauded While Shopping Online During Festive Season, Says Study.

"To convince Ballal, they ferried him in high-end cars and visited luxury hotels. Impressed, the victim gave the trio Rs 20 lakh, and the latter gave him Rs 40 lakh in dummy currency, with 'Bharatiya Bachhon ka Bank' printed on it. It is used in children's games," the official said. Online Fraud in Pune: Several Investors Duped of Rs 12 Crore by Fraudsters Via Fake Poultry Firm Website, YouTube Channel.

On the basis of his complaint, Matunga police registered a case of cheating, passing off counterfeit notes as genuine and other offences. "Through probe and technical assistance, the trio was held. All are residents of Buldhana district and the main accused is involved in several cases across the state using the same modus operandi," the official said.

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