Delhi Police Bust ₹3.59 Crore Demonetised Currency Racket, Four Arrested

December 11, 2025

New Delhi: The Delhi Police has busted a major racket that duped people by falsely claiming to exchange old Rs 500 and Rs 1000 notes with RBI. Four accused have been arrested in this case.

Acting on a tip-off, a team of Police Post WPIA under Ashok Vihar Police Station raided near Gate No. 4 of Shalimar Bagh Metro Station on December 10 and arrested the accused. The arrested accused include Harsh (22), Tek Chand Thakur alias Vinod (39), Lakshya (28), and Vipin Kumar (38), all residents of Delhi.

Notes removed from detention and vehicles recovered

The police recovered old notes worth Rs 3.59 crore from the racket and seized two vehicles used in the crime. The police said that the gang used to sell old notes at cheap rates and falsely claim that they could be exchanged at the RBI using Aadhaar. All the arrested accused confessed to trying to make illegal and quick profits.

The modus operandi and links of the racket

The investigation revealed that the accused was in touch with two persons, Ashish and Tarun, since 2021. They told the accused that they had a large quantity of old notes and that they would get a commission for helping them circulate or exchange this cash. The accused said that they were acting on instructions given over mobile phones.

Financial pressure also a factor

The police said that some of the accused also joined the scheme due to personal financial pressure. The target, who is due to get married in February 2026, had taken a loan for the wedding. Tek Chand was struggling with family and education expenses, while Vipin, who works in the private sector, joined to reap the benefits quickly.

Legal action and investigation ongoing

A case has been registered at Ashok Vihar police station under sections 318(4)/61(2)/62/3(5) of the Indian Penal Code and sections 5 and 7 of the Specified Bank Notes (Cancellation of Debts) Act, 2017. DCP Bhisham Singh said that investigations are on to nab other members of the network.