A man from Mira Road locality was allegedly duped to the tune of Rs 9.50 lakh by five persons after they promised to give him demonetised currency of higher value in exchange of new notes, police said today.
According to Thane District Rural police, an offence under sections 420 rw 34 of the IPC was registered yesterday with the Mira Road police station against the accused identified as Shahid, Ismail Khatri, Manish Dube, Imran Sayyed and Bhaijan.
Quoting complainant Shabbir Abbas Bharmal, police said that both the parties met at a transport company office on March 4, where the victim handed over the scrapped currency of Rs 9.50 lakh (collected from his friends) to the accused persons on a promise that they would give him in return Rs 11.10 lakhs in old demonetised notes.
After taking the new currency, the accused fled the spot, the complaint said. Further investigation is underway.