A retired Reserve Bank of India (RBI) officer in Indore was allegedly cheated of more than ₹59,000 by fraudsters who promised him ₹9 lakh in exchange for an old ₹50 note. The accused contacted him through Facebook and later asked him to make several payments on different pretexts.
According to the police, the victim, Jasbir Singh, lives in the Juni area of Indore and is a retired RBI employee. On the afternoon of August 24, he was browsing Facebook when he came across an advertisement offering to exchange old currency notes for a large amount of money.
Fraudsters Promised ₹9 Lakh for Old ₹50 Note
Jasbir Singh contacted the number given in the advertisement. The person on the other side told him that an old ₹50 note could be exchanged for up to ₹9 lakh.
The fraudsters initially asked him to pay around ₹1,750 as expenses. After he transferred the money, they told him that around ₹4 lakh had been deposited into his bank account. However, when Jasbir checked with his bank, he found that no such money had been received.
More Money Demanded on Different Excuses
The fraudsters then asked him to transfer another ₹5,100, again promising that the money would be credited to his account. When this did not happen, Jasbir contacted them again.
This time, the fraudsters promised to give him around ₹86,000 in exchange for the old note but demanded another ₹12,500 from him.
They also asked him to pay ₹1,100 for account verification. Later, they came up with another excuse and claimed that the team carrying the money had been stopped by the Income Tax Department.
The fraudsters then demanded ₹25,000 as GST charges, claiming that the money would be released after the payment.
Over ₹59,000 Transferred in 16 Transactions
The fraudsters sent different QR codes to Jasbir Singh and asked him to make payments for various charges. Trusting them, he transferred money through these QR codes.
According to the complaint, he transferred more than ₹59,000 in around 16 transactions. However, he neither received the promised money nor did anyone come to collect the old ₹50 note.
Police Register FIR and Start Investigation
After realizing that he had been cheated, Jasbir Singh filed an online complaint with the police. Following the complaint, Juni police in Indore registered a case and started an investigation.
Police are now examining the bank transactions, QR codes and mobile numbers linked to the accused to identify the people behind the fraud.
Lesson: Do Not Pay Money for Such Offers
This incident is a reminder that offers promising lakhs of rupees in exchange for old coins or currency notes can be used by fraudsters to trap people.
Fraudsters often first demand a small amount and then keep asking for more money in the name of GST, verification, processing fees, taxes, delivery charges or other expenses. Once money is transferred, they may continue making new excuses.
Never send money or scan a QR code simply because someone promises a large payment in return. If an offer looks too good to be true, verify it through official sources before making any payment.
