Fake note racket run by Africans busted in Bengaluru

Two Africans are on the run after running a counterfeit currency note racket from a house that they rented in eastern Bengaluru just a week ago.

The Central Crime Branch (CCB) busted the racket that printed fake Rs 500 notes and US dollars. It seized counterfeit currency, chemical solutions and other valuables. The currency notes had a face value of Rs 1.1 crore.

The CCB said the gang used aggressive social media ads to lure people with money doubling, black bill unmasking, original-fake currency swapping, and American dollar investment assurance schemes.

CCB inspector B S Ashok got a hint of the racket from a man who said he was cheated by two Africans and gave their numbers. But he didn’t give any other details.

The CCB team worked nonstop for 15 days before raiding a house in Rajanna Layout in Agara, Horamavu, on Tuesday. The sleuths didn’t find the Africans there but a peek through the window revealed the presence of fake notes.

CCB officers opened the door with a spare key provided by Venkateshpathi, the house owner. They found an electronic drying machine, bottles of chemical solutions and 10,033 fake Indian banknotes of the 500 denomination.

According to the CCB, the racketeers used an iodine solution to blacken pieces of paper and ascorbic acid (Vitamin C powder) to expose the black colour on the paper. Some of the seized notes and plain papers were soaked in the solution and powder.

The counterfeiters sent bulk SMSes to random people and offered them the opportunity to earn lakhs of rupees from the comfort of their homes. When people responded to their messages, the conmen told them about money doubling, currency swapping and black bill unmasking techniques.

When people showed interest, the conmen called them to an OYO hotel room and gave them options: Rs 20 lakh worth of counterfeit notes in exchange for Rs 5 lakh in genuine bills.

They promised to sell the chemical solution if people showed an interest in manufacturing currency notes on their own. A 100-ml iodine solution and 100 grams of ascorbic acid were sold for Rs 50,000 to Rs 1 lakh. Iodine solution and ascorbic acid are easily available in medical stores.

After receiving payment, the gang would create an impression that police have raided the place and would ask the customers to leave immediately to escape arrest.

Venkateshpathi told police that the Africans came on December 5 and showed interest in renting a portion of his house. They said they had come to India on a business visa. When he asked for their IDs, they said they had given it to their current landlord and promised to submit it at the earliest.

Venkateshpathi said the Africans brought their stuff on the evening of December 5. They left home early in the day and returned at night.