Police in Saharanpur have arrested a wanted criminal carrying a bounty of 25,000 rupees for allegedly defrauding two Bihar residents of 16 lakh rupees by falsely claiming to hold an old currency stockpile valued at 2,000 crore rupees. The suspect, identified as Shah Nawaz, a resident of Mirzapur Pol, was intercepted during an operation led by local officers. Upon his apprehension, police recovered six counterfeit notes in the 500-rupee denomination from his possession. During questioning, the suspect reportedly confessed to operating a wider illicit network that involved trafficking counterfeit currency and procuring illegal firearms and ammunition from Punjab for sale across different regions. Investigators have launched inquiries to verify these disclosures and trace his associates.
Fabricated Video of Cash Stashes Used to Entrap Victims
The fraudulent scheme targeted Krishnakant Dubey, a resident of Duboli village in the Buxar district of Bihar, alongside his business associate. According to police, the accused approached the victims claiming that he held old currency notes worth nearly 2,000 crore rupees that could be exchanged through informal networks for immense commercial gain. To persuade the victims of the legitimacy of his claims, the accused displayed video footage depicting containers and boxes purported to be packed with discontinued 2,000-rupee currency notes. He further induced the men with additional promises of lucrative returns from trading antique commodities. Under the pretext of covering administrative fees and operational costs required to facilitate the currency conversion, the accused solicited between 15 lakh and 16 lakh rupees. Convinced by the recorded footage and the promises of heavy returns, the complainants disbursed 16 lakh rupees across four separate instalments.
Complainant Threatened Following Demands for Refund
The victims subsequently discovered that the projected antique transactions and conversion arrangements were fabricated to siphon their capital. When the victims confronted the accused and demanded the restitution of the 16 lakh rupees, they were threatened with death instead of receiving any reimbursement. Following the intimidation, Krishnakant Dubey reported the matter to law enforcement authorities. On October 29, the Sadar Bazar police station formally registered a case against Shah Nawaz, Vishal Tyagi, a resident of Jatkara in Delhi, and an unidentified accomplice. Authorities promptly declared a monetary reward of 25,000 rupees on Shah Nawaz to expedite his apprehension, setting up dedicated police units to locate the absconding suspects.
Suspect Nabbed in Targeted Operation with Counterfeit Currency
Acting on operational leads, a specialized police team constituted under the direction of the Circle Officer (City-II) and headed by the station house officer arrested Shah Nawaz on Thursday. A personal search conducted at the time of the arrest led to the seizure of six fake 500-rupee notes. During sustained interrogation, the accused disclosed that he collaborated with a Delhi-based associate and several accomplices to traffic counterfeit currency, while also transporting illicit pistols and cartridges from Punjab into local markets. The Senior Superintendent of Police stated that strict legal proceedings are underway against individuals exploiting citizens with fake currency exchange promises. Inquiries are focused on recovering the 16 lakh rupees collected from the complainants and dismantling the broader arms and counterfeit currency syndicate.
