Hyderabad man cheated of ₹3.7 lakh in ‘old coin’ Facebook scam; FIR registered
HYDERABAD: A 35-year-old man from Malkajgiri was allegedly cheated of ₹3,78,173 by fraudsters who posed as buyers of old coins and currency notes through a Facebook advertisement, police said.
According to the complaint filed by Challa Venkata Rao, the incident began on March 17, 2026, when he came across a Facebook advertisement of a company named “OLD COIN COMPANY” claiming to purchase old coins and currency notes for high prices. After clicking the advertisement, he was redirected to a WhatsApp number, where a person identifying himself as Ram Pandey contacted him.
The accused allegedly explained that the company would pay a large amount for old coins and asked the complainant to continue communication through WhatsApp voice calls. The complainant was instructed to send photographs of old coins and notes and pay ₹750 as registration charges. He transferred the amount through PhonePe.
Later, the accused allegedly demanded additional payments under various pretexts, including transport charges of ₹8,199, security charges, bill of lading charges of ₹15,500, rent receipts of ₹35,000 and other fabricated fees. Believing their assurances, the complainant continued making payments.
Police said the accused used multiple mobile numbers, during the communication. After receiving the total amount of ₹3,78,173, the accused stopped responding and their phone numbers became unreachable.
Realising that he had been cheated, the complainant approached police seeking action. Based on the complaint, a case has been registered and investigation is underway.
