Ludhiana, Sept. 22 -- A 30-year-old advocate was duped of more than Rs.33 lakh by a group of fraudsters who first approached him to buy his old currency and antique decoration pieces and later lured him into investing in an old-currency trading business using a fake licence purportedly issued by the Reserve Bank of India (RBI).

The advocate, who did not wish to be identified, approached the police with a complaint. Following an inquiry, police registered an FIR against unidentified persons under Sections 318(4) (cheating) and 61(2) (criminal conspiracy) of the Bharatiya Nyaya Sanhita (BNS).

According to the inquiry report, the fraudsters initially contacted the victim claiming to represent a Mumbai-based firm dealing in old currency and...