A case has been registered and police are investigating the incident.

Hyderabad jeweller duped while trying to exchange Rs 50 lakh by fake copsImage for representation
news Demonetisation Thursday, November 17, 2016 - 07:49

A jeweller in Hyderabad who was hoping to exchange demonetised currency worth Rs 50 lakh, with the help of a 'contact,' was swindled by fake cops at Attapur, late on Tuesday night.

The Times of India reported that Dinesh Jewellers' owner Deepak stated that a customer had given him details of a 'contact', and he had put the money in his car and gone to meet him in Attapur.

"As the jeweller came across a patrolling team on the main road, he went into bylanes fearing getting caught by police. In one of the bylanes, Deepak met the contact and wanted to exchange the currency . However, the agent deferred the exchange to Wednesday as the banks were closed for the day and there was police presence in the locality," deputy commissioner of police (Shamshabad Zone) PV Padmaja told TOI.

Following this, the jeweller was stopped on his way back home by two people claiming to be cops, and on the pretext of a search, they found the cash and escaped with it. 

A case has been registered and police are investigating the incident.

Last week, income-tax officials in the city clamped down on jewellers with multiple raids, after reports that they were converting demonetized Rs 500 and Rs 1,000 notes into gold.

Officials also asked for details of stocks held by the shops, as well as a record of the transactions in the past few days.

Meanwhile, West Bengal Chief Minister Mamata Banerjee and leaders of three other parties including the Shiv Sena on Wednesday sought President Pranab Mukherjees intervention over the problems faced by people following the "financial calamity" unleashed by the demonetisation move.

Joined by the leaders of National Conference, Aam Aadmi Party (AAP) and BJP ally Shiv Sena, Banerjee and 40 of her Trinamool MPs marched to Rashtrapati Bhavan demanding rollback of demonetisation of 500 and 1,000 rupee notes.

Dubbing demonetisation as a "big black scheme", Banerjee said the decision has led to the deaths of around 20-30 people across the country and resulted in a loss of Rs 2 lakh crore to the GDP.




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