Bengaluru: 5 Arrested For Trying To Exchange Fake Currency At RBI, Notes Worth Rs 50 Lakh Seized

The crime came to light on September 9 when Afzal Hussain attempted to exchange fake Rs 2,000 notes at the RBI branch on Nripatunga Road.

Investigations revealed that Afzal Hussain runs a granite business in Bellary, and he owed Rs 25 lakh to Nooruddin, a business associate from Kerala.

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In a major crackdown on a counterfeit currency racket, five individuals were arrested by the Halasur Gate Police Station for printing and circulating fake Rs 2,000 notes worth Rs 52.40 lakh. The accused, identified as Afzal Hussain (29) from Bellary, Praseeth (47) from Puducherry, Mohammad Afnas (34) from Kerala, Nuruddin alias Anwar (34), and Priyesh (34), were apprehended following an investigation triggered by a complaint from the Reserve Bank of India (RBI).

The crime came to light on September 9 when Afzal Hussain attempted to exchange fake Rs 2,000 notes at the RBI branch on Nripatunga Road. Upon checking the authenticity of the notes, the bank staff discovered they were counterfeit and immediately informed the authorities. A complaint was lodged by RBI's Assistant General Manager Bhim Chaudhary, leading to Hussain's arrest. His interrogation revealed a larger conspiracy involving fake currency production and distribution.

Based on Hussain’s information, the police launched a coordinated operation in Kerala, arresting the other four individuals and seizing an additional Rs 27.72 lakh in fake notes. Along with the counterfeit currency, two mobile phones were confiscated during the raid.

Investigations revealed that Afzal Hussain runs a granite business in Bellary, and he owed Rs 25 lakh to Nooruddin, a business associate from Kerala. Instead of paying in genuine notes, Nooruddin offered him Rs 2,000 denomination counterfeit notes. The fake notes were printed by Priyesh, who has been operating a printing press in Kasaragod, Kerala, for over two decades. Priyesh sourced special paper and materials from Calicut to produce the fake currency at his facility.

Nooruddin and Mohammad Afnas, both key figures in the racket, were involved in circulating the counterfeit notes. They allegedly filmed the fake notes and shared the videos via WhatsApp to recruit others into the scheme. Priyesh, the mastermind behind the printing operation, had been previously arrested by Mangalore Cyber Crime Police for similar offenses and was recently released on judicial custody.