Nagpur: In a major crackdown on a counterfeit currency fraud racket, the Local Crime Branch (LCB) of the Nagpur Rural Police arrested two conmen who allegedly duped unsuspecting victims by selling bundles of fake currency labelled ‘Children’s Bank of India’ as genuine cash. Police seized 2,300 bundles of fake notes carrying a printed face value of Rs 8.65 crore, along with a car, mobile phones and cash.

The arrested accused have been identified as Afroz Khan Zamirulla Khan (43), a resident of Memon Colony in Yavatmal, and Irshad Jumman Shaikh (26), a resident of Deoli in Wardha district.

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According to police, the Local Crime Branch received a tip-off on July 2 that the duo was travelling in a white Maruti Swift on the Nagpur-Wardha National Highway and was planning to target prospective victims. Acting swiftly, an LCB team laid a trap near Asola-Savangi.

When police signalled the vehicle to stop, the driver allegedly attempted to flee. However, after a brief chase, the vehicle was intercepted and both occupants were apprehended.

During the search, police recovered 2,300 bundles of fake currency notes in denominations of Rs 500, Rs 200 and Rs 100. Although the bundles bore a printed value of approximately Rs 8.65 crore, each note was clearly marked ‘Children’s Bank of India’, making them worthless as legal tender.

Investigators revealed that the accused had devised a well-planned fraud to deceive people looking for quick financial gains. They allegedly approached individuals claiming to possess cash bundles worth around Rs 8 lakh, offering to sell them for just Rs 1 lakh.

To win the confidence of victims, the accused first conducted a small transaction using genuine currency worth Rs 10,000 to Rs 20,000. During the final exchange, they cleverly sandwiched a bundle of fake notes between two genuine notes, one placed on top and the other at the bottom, creating the illusion that the entire bundle contained real currency.

Police believe the gang exploited the fact that such transactions often involved unaccounted money, discouraging victims from lodging complaints for fear of legal consequences. Preliminary investigation suggests the accused may have already cheated at least two or three people using the same modus operandi.

The police seized the fake currency bundles, genuine cash amounting to Rs 5,600, the Maruti Swift car used in the crime and four mobile phones. The total value of the seized property has been estimated at Rs 3.48 lakh.

A case has been registered at Butibori Police Station under relevant provisions of the Bharatiya Nyaya Sanhita (BNS) and the Motor Vehicles Act. Investigators are now probing whether the accused were part of a larger interstate fraud network and whether they had committed similar offences in other districts.

The operation was carried out under the supervision of Senior Superintendent of Police Dr Harssh A. Poddar and Additional Superintendent of Police Anil Mhaske. The raid was led by Police Inspector Ankush Mane and the Local Crime Branch team.