D Upender, S Navin and A Bucchaiah allegedly told the victim that they knew somebody who wanted to exchange his defunct currency, and was ready to pay 5 per cent commission for new notes.
The victim gave them Rs 12 lakh in new 2000 denomination notes for exchange.
The three accused then asked their accomplice S Naresh, who works as a driver with ACB office, to call the victim and tell him that these three were arrested by the ACB and it seized his money too.
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