KATHMANDU: Four unidentified men swindled a Kuleshwar-based trader of Rs 1,00,00 on the pretext of exchanging old banknotes with the King's portrait on them, police said.

The suspects asked 68-year-old Karna Lal Shrestha, who runs a foodstuff shop, if he had the old banknotes and ran away with the amount that they gave him for exchange.

According to police, the con men had gone to the shop as buyers.

Police said they are searching for the alleged swindlers.