Pune, September 21: A case of fraud has been reported from Pune where a businessman was duped by fraudsters on the pretext of exchange Indian currency for UAE dirhams at lower rates. Reports inform that the 28-year-old Pune-based businessman was duped by two men who offered to exchange the Indian currency for dirhams at a rate lower than the official exchange rate. According to a report by Hindustan Times, the fraud took place in the Sai Nagar area along Upper Kondhwa road on September 16 around 8 pm.

According to details by Police, the complainant and his friend lost a total of Rs 2,01,000 in the process. Giving details about the fraud, the HT report further informs that the complainant is a hotel management graduate who left his job during the lockdown. The man needed UAE currency to carry with himself. His friend’s driver was approached by the fraudsters who first gave him a 50 dirham note. When the friend exchanged it, it yielded Rs 700 the first time, and when he exchanged eight notes, he got him over Rs 4,000 on exchange.  Pune Man Duped of Rs 28 Lakh By Online Fraudsters Impersonating Executives of Japanese Multinational Pharma Company; Case Registered.

Thinking that the fraudsters were genuine, the complainant went with a higher amount along with a few thousand from his friend too but was duped this time.  Assistant police inspector Rajesh Usgaonkar, who is investigating the case, said that the victim arrived at the spot with multiple Indian currency notes of Rs 500 and Rs 2,000 in a plastic bag after which the two men arrived with washing soap wrapped in a fabric that looked like currency notes.

The FIR said that the fraudsters had wrapped the notes in a handkerchief and made a hasty exchange. They then pushed the victim on the ground before fleeing the spot, the man told the police. Soon after the incident was reported, a case was registered under Sections 406 (criminal breach of trust), 420 (cheating), 392 (theft), and 34 (common intention) of the Indian Penal Code at Bibwewadi police station.

(The above story first appeared on LatestLY on Sep 21, 2021 03:01 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).