Police in Hyderabad, Telangana, have busted a fake “chemical money” racket and arrested two foreign nationals accused of cheating a local businessman out of ₹20 lakh by promising to double his money through a bogus chemical-based currency multiplication process. During the operation, police recovered ₹10 lakh in cash, counterfeit Indian and U.S. currency notes, chemicals, black paper, and other materials allegedly used in the fraud.
The arrested accused have been identified as Toure EL Hadji Mahamane, alias Fokou Tamen Romuald, alias Rolin (49), and Tchouanyou Adolphe, alias Auram (62). The first accused is originally from Segou, Mali, but holds a Cameroon passport and was residing in Attapur, Hyderabad. The second accused is a Cameroonian national who was living in Vasant Kunj, New Delhi, and was engaged in online business activities.
According to police, the case was registered on July 20 after Hyderabad resident Krishna Kanth Vadlani filed a complaint alleging that the two men had posed as successful businessmen and claimed they could double any amount of cash using a special chemical process. To convince him, they allegedly staged a demonstration using black paper, chemicals, and other materials, making it appear as though genuine currency notes were being produced from blank sheets.
Convinced by the demonstration, the complainant handed over ₹20 lakh to the accused. They allegedly packed the money inside a box and told him they needed to bring a special chemical to complete the process. They also instructed him not to open the box until they returned. When the accused failed to come back, the victim opened the box and discovered that the cash had been replaced with plain white sheets and coloured photocopy paper. He then approached the police and lodged a complaint.
Investigators gathered technical and scientific evidence, analysed multiple leads, and tracked the suspects before apprehending them during area patrols. During interrogation, the accused allegedly confessed to the crime. Police recovered ₹10 lakh from the cheated amount along with several incriminating materials believed to have been used in the fraud.
The seized items include counterfeit ₹500 Indian currency notes, fake U.S. dollar notes, activation powder, bottles containing chemical liquids, and bundles of black paper. Investigators believe these materials were used to create the illusion that ordinary paper could be chemically transformed into genuine currency, thereby convincing victims to part with their money.
The investigation also revealed that the accused allegedly identified and approached potential victims through repeated phone calls made from foreign mobile numbers. After gaining their trust over multiple conversations, they arranged face-to-face meetings where they conducted fake demonstrations before executing the fraud. Police suspect the operation may be linked to a larger interstate or international fraud network and are investigating that angle.
Authorities further disclosed that the first accused has a criminal history. Police records show that he was booked in 2025 under provisions related to cheating, passport violations, and offences under the Foreigners Act. He was also named in a cheating case registered in Gujarat in 2022. Investigators are now examining the accused’s financial transactions, contacts, and activities across different states to determine whether more victims have fallen prey to the same money-doubling scam.
