Thane man says lost Rs 7 lakh in currency exchange deal: Cops

A Thane resident has claimed he was cheated of Rs 7 lakh in a transaction to get change in smaller denominations for Rs 2000 notes, police said on Monday.

A Thane resident has claimed he was cheated of Rs 7 lakh in a transaction to get change in smaller denominations for Rs 2000 notes, police said on Monday. Trader Abdul Kazi has claimed he gave Rs 7 lakh, in Rs 2000 notes, to a friend to further pass it on to two people who had promised to give him notes of smaller denomination in exchange for a commission, a Kasarwadavli police station official said.

"He has said two people posing as policemen came in when the deal was being finalised in March and took away Rs 7 lakh claiming the money was ill-gotten and needs to be probed. We have taken a cheating case and are probing further. No one has been arrested as yet," he added.