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Please help - rip off
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Well I would speak to your "friend" and see if he can explain it and if not I would advise him that you are going to report the matter to the police.
The price you paid is not massively under the price recycling companies pay for the phone and so it isn't a given that you were buying "dodgy goods". (o2 recycle are offering £115 for a N96).
The police may not be interested, but he has effectively obtained money by deception if he wasn't entitled to sell the phone, or he may be handling stolen goods.
Alternatively you put it down to experience0
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