Thane, Mar 7: A man from Mira Road locality in Thane 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 Tuesday.
According to Thane District Rural police, an offence under sections 420 rw 34 of the IPC was registered on Monday 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 to the accused persons on a promise that they would give him in return Rs 11.10 lakhs in demonetised notes.
After taking the new currency, the accused fled the spot, the complaint said. Further investigation is underway.