This is odd......

Why would you sell someone £7200 worth of USD for £5600?

http://www.thisisbristol.co.uk/news/Man-cleared-fraud-deal-dollars/article-3218426-detail/article.html

Man cleared of fraud in deal on US dollars

A CURRENCY dealer who operated under the name Simon Templar has been cleared of failing to supply a quantity of United States dollars to a client.

Simon Nagle, 55, defended himself when he appeared at North Avon Magistrates' Court in Yate and denied a charge of fraud.

He had been accused of abusing his position as a dealer in order to make a gain when dealing with Dipak Shah. It was alleged he had agreed to sell £7,200 of dollars to Mr Shah for £2,800 but then kept the sterling without supplying the currency.

But magistrates decided there had been a misunderstanding between the two men over the transaction and said they found Mr Nagle's version of events surrounding the terms of the deal to be more credible.

Mr Shah told the court he would buy foreign currency from Mr Nagle and pay him through an online banking arrangement.

In December 2009 he received a call from Mr Nagle offering to supply a quantity of currency at a discounted rate but payments would have to be sent that day. Mr Shah said he transferred two lots of £1,400 to Mr Nagle's bank but never received the dollars in return.

The court heard that throughout interviews with the police, Mr Nagle denied ever getting the money from Mr Shah. But at the end of the hearing, Mr Nagle said he had in fact received the payments but claimed they only formed one half of a transaction. He said he had supplied one lot of dollars for the sum received but he hadn't been paid for the second delivery.

Mr Nagle, of Craven Close, Longwell Green, said: "The deal was for £7,200 worth of dollars and he would have to pay £5,600 for them. He paid £2,800 and got the first lot."

He said he could not have the done the deal that Mr Shah said they had agreed because the discount would have been too great.