Fake currency fraud busted in capital

Bengaluru: The Jayanagar police have arrested three men from Tamil Nadu who allegedly tried to cheat businessmen by promising to exchange fake currency for real cash. The accused — identified as Miraan Mohiduddin, Sheikh Mohammad, and Rajeshwaran from Tirunelveli district — were caught red-handed during a police raid while attempting a fake currency exchange.

According to the police, the trio lured traders and entrepreneurs by claiming they could triple their money using high-quality counterfeit notes. To gain trust, they initially gave small bundles of genuine-looking fake notes. Once victims believed their claims, the accused collected large sums and replaced the promised bundles with wads of white paper hidden between a few genuine notes.

The gang’s latest attempt involved exchanging ₹10 lakh worth of fake ₹500 notes in return for ₹3 lakh genuine cash. Acting on a tip-off, Jayanagar police laid a trap and nabbed the trio during the exchange. During the operation, police found a suitcase containing 31 genuine notes and stacks of blank white paper instead of counterfeit cash. Bengaluru South Division DCP Lokesh B. Jagalasar confirmed the arrests and said, “The accused from Tamil Nadu offered to provide ₹10 lakh in counterfeit notes for ₹3 lakh in real money. When interrogated, it became clear that they were attempting to cheat the public, not actually printing fake notes.