Fake Rs 500 notes worth Rs 11 lakh seized in Mumbai, accused sold them for double

Mumbai Police have busted a counterfeit currency racket after seizing high-quality fake Rs 500 notes with a face value of Rs 10.64 lakh and arresting a man in connection with the case, officials said.According to the Crime Branch, the counterfeit notes closely resemble genuine Rs 500 currency and may not be easy to identify at first glance. The case came to light after police laid a trap and detained a woman, from whom some fake notes were recovered.Based on information obtained during the investigation, police traced the accused man near Kurla and recovered a large quantity of counterfeit notes from him. Police said the woman and the man were linked and that she had obtained the fake currency from him.The accused was produced before a court on Tuesday, which granted police custody until September 10. The role of the woman is still being investigated and police have issued her a notice, according to the Crime Branch. FAKE NOTES SOLD FOR TWICE THEIR VALUEThe investigation has revealed that the accused allegedly sold the counterfeit currency at twice the value of the genuine money received from buyers.For instance, a person would hand over Rs 10,000 in genuine currency and receive counterfeit notes with a face value of Rs 20,000 in return, according to police. However, police are still investigating how much the accused paid to acquire the counterfeit notes and how much they paid the person or network supplying them. The purchase price and the identity of the suppliers remain part of the investigation.According to the police, the two accused came into contact through a common person. Investigators are now trying to identify this common link and determine his or her role in the counterfeit currency network.Police are also gathering information about the person to whom the counterfeit notes were supposed to be delivered or with whom the accused were allegedly expected to conduct a further transaction.SOURCED FROM OUTSIDE MAHARASHTRAAccording to the police, the counterfeit notes had been purchased from outside Maharashtra. However, the probe has not yet established the state where the notes were manufactured.The Crime Branch is investigating where the counterfeit currency was produced, who manufactured it and who was responsible for supplying it to Maharashtra.Police have also not confirmed any link to another country, particularly Pakistan, in the case so far. Investigators said further action would be taken as additional links emerge during the probe.The seized notes have been described as high-quality counterfeit currency because several features of genuine Rs 500 notes have been closely replicated.CLOSE CHECK REVEALS DISCREPANCIESAccording to the police, the differences may not be immediately apparent to an ordinary person. However, a close comparison with a genuine note reveals several discrepancies.One such difference is in the width of the white margin at the bottom of the note. Police also found differences in the quality of the hologram and the features incorporated into it. Minor variations in spelling and fonts were also noticed at certain places.These differences can help distinguish the counterfeit notes from genuine currency upon close examination.Police said they have also checked the backgrounds of the accused. Preliminary inquiries have not revealed any previous criminal case or record against either of them, according to the police.The arrested man is involved in the footwear business, police said. Investigators are trying to determine whether he was involved exclusively in the buying and selling of counterfeit currency or whether he carried out the activity alongside his footwear business.Police are also probing how long he had been connected to the counterfeit currency network and whether he had previously purchased or supplied counterfeit notes.The Crime Branch said they are trying to determine whether counterfeit notes from the network had previously entered the market, the possibility of people and shopkeepers being defrauded and the areas where such notes may have been supplied.- EndsPublished On: Sep 8, 2026 07:28 IST