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Home / Cities / Fake currency racket busted in Delhi; graphic designer, web engineer arrested

Fake currency racket busted in Delhi; graphic designer, web engineer arrested

cities Updated: Dec 26, 2019 20:36 IST
HT Correspondent
HT Correspondent
Hindustantimes

New Delhi:

Delhi Police on Thursday said they busted a syndicate that printed fake Indian currency and US Dollars from a house in northeast Delhi’s Seelampur to be supplied across India, and arrested a graphic designer, a web engineer and three others who arranged for logistics and raw material.

Fake Indian currency with a face value of Rs 54.9 lakh and fake US Dollars with a face value of Rs 1.73 crore were recovered from them.

Deputy commissioner of police (special cell) PS Kushwah said the arrested men are Danish Malik, who designed the fake notes, Unwan Ansari, a Delhi University commerce graduate and web engineer who used to encash the fake currency for Bitcoins, Tabrez Ahmed (38), the main conspirator and planner of the fake currency network, Shoaib Malik (28), who managed logistics and place for designing and printing of the currency in Delhi’s Seelampur and Raghuraj Singh (52), who arranged for buyers.

All of them were arrested from Delhi between December 20 and 23.

According to Kushwah, over the past few months they received information about the syndicate. “Days of surveillance led to a string lead that the ring is being operated by some men working under directions of one Tabrez Ahmed from Madhya Pradesh. It was learnt the module was trying to set up a factory that can print fake currency in large amounts,” the DCP said.

On December 20, the police received specific information that a notes being printed in Delhi would be delivered in Laxmi Nagar. “In the late evening hours, we raided a premises from where we caught three men—Tabrez Ahmed, Shoaib Malik and Raghuraj Singh—and recovered fake Indian notes with a face value of Rs 3 lakh,” Kushwah said.

The DCP said the men disclosed they used to sell the currency for a profit of Rs 20 against a fake Rs 100 note.

The men led the police to Danish Malik, who was arrested on December 22 and Unwan Ansari the next day.

“A printer, butter paper and fake currency with a face value of more than Rs 51.8 lakh was recovered from the two men arrested later. The recovered currency were in denomination of Rs 2,000, 500, 100 and 50. Apart from this, 1,675 notes in the denomination of 100 dollars each were recovered,” Kushwah said.

Two pistols of .32 bore with a magazine and four live cartridges were found in Unwan Ansari’s house , police said.

Kushwah said that they are interrogating the men to find out the source of the raw material and machines used to print the notes. “Foreign currency was pushed into the market through some money exchange outlets and they are being identified. The arrested men said they had been operating for more than 10 years in Delhi and were suspected of having circulated in the market fake currency with a face value of at least Rs 5-6 crore,” he said.