Man falls for ‘reward’ in exchange for Re 1 note; loses ₹10 lakh

Mumbai, A cashier of a state-run insurance company lost ₹10.38 lakh after fraudsters lured him with the promise of a hefty reward in exchange for a Re 1 note, an official said on Saturday.

The incident came to light on Thursday, when the 45-year-old complainant, a resident of Mumbai’s Santacruz West, approached the West Region Cyber Police Station, the official said.

The man, who works at the Churchgate branch of the insurer, told the police that he came across an advertisement while watching social media reels on February 23.

The ad promised a reward of ₹4.53 lakh to those producing a one-rupee note. It had a WhatsApp number, the official said.

The cashier sent a photo of a Re 1 note on the WhatsApp number, following which a person, who introduced himself as Pankaj Singh, got in touch with him. Singh said he worked at a coin shop.

The caller asked the man to fill out a form and collected ₹6,160 for “registration”. After some time, he again called the complainant, saying the earlier amount was incorrect and he would need to transfer ₹6,107, the official said.

The caller also promised that the previously transferred amount would be refunded. Subsequently, Singh connected the complainant with another person, who identified himself as Arun Sharma.

Sharma sent the victim a letter from “RBI” about winning the reward in exchange for a Re 1 note.

However, the two smooth-talked the cashier and collected ₹10.38 lakh from the complainant under various pretexts, the official said.

The cashier realised that he had been duped when the accused told him the reward amount could be raised to ₹25.56 lakh if he paid ₹6 lakh more. He then approached the police.

A case has been registered under the IT Act and Bharatiya Nyaya Sanhita, the official said, adding that a probe was underway.

This article was generated from an automated news agency feed without modifications to text.