Hyderabad Man Loses ₹8 Lakh in Fake ₹1

Times of India · business

A 49-year-old Hyderabad resident lost nearly ₹8 lakh in a fraudulent scheme involving an old ₹1 currency note. He responded to a social media ad promising ₹45 lakh for the note. The victim made multiple payments for alleged release fees and taxes. A fraudster impersonating a DSP further extorted money by threatening legal action. The victim transferred over ₹7.9 lakh between and 23 before realizing he was duped and reporting to the police.