Mumbai: The Kalachowki Police have seized ₹25 lakh worth of counterfeit currency in the Cotton Green area of Mumbai. The seized notes were in bundles, each containing fake ₹500 denomination notes. One person, identified as Ankit Dinanath Parashar, has been arrested in the case, while three other suspects — Sama Hussain Latif, Kabir, and Ranjit Bera — are currently on the run.
According to police sources, the complainant Deepak Purushottam Jadhav (31) was approached by two individuals, Kabir and Nawab Mokar, who claimed to possess fake ₹500 notes that could bypass scanning and ATM cash deposit machines. They demanded ₹1 lakh in exchange for the counterfeit notes.
Jadhav alerted API Hasan Mulani, following which senior officials formed four police teams. A trap was laid near Reay Road station (East). On June 28, 2025, around 12:30 am, the accused Ankit arrived with the fake currency. Once he reached the location, Jadhav signaled the police, who immediately apprehended him.
A search of Ankit’s possession revealed five bundles of counterfeit currency. During interrogation, he revealed that only the top notes in each bundle were genuine, while the rest were fake. The investigation also uncovered that the gang was duping victims by giving ₹5 lakh worth of fake notes for just ₹1 lakh.
The gang is suspected to have conned multiple people in the past month using this method. Police are now on the lookout for the racket’s mastermind, and further investigation is underway.
