Overview

• Deputy Commissioner Ankit Chauhan said Nikhil Srivastava, Princepal, Parvez Akhtar and Asgar Khan were arrested after raids on July 9 and 10 at a Saidulajab flat.
• Authorities seized ₹1.25 crore in dummy notes, ₹7.5 lakh in genuine cash, a cash-counting machine, a mobile phone and froze ₹4.5 lakh in a linked bank account.
• Investigators mapped the gang’s modus by analysing CCTV footage and bank records to trace transfers and pinpoint the rented flats used for swapping real currency with fakes.
• The victim, seeking funds for a property purchase, transferred ₹40 lakh on July 4 after being shown bundles of what appeared to be legal tender.
• Interrogations tied the suspects to three additional Tughlakabad frauds totalling ₹1 crore and a ₹30 lakh case in Chhatarpur, with probes still under way.