Bengaluru Police Bust Rs 2,000 Note Ritual Scam: 10 Arrested in Counterfeit Currency Operation

Bengaluru police have arrested ten individuals involved in a sophisticated fraud scheme where they collected demonetized Rs 2,000 notes from unsuspecting citizens with promises of multiplying their money through ritualistic ceremonies. Authorities have confiscated Rs 18 lakh worth of the discontinued currency notes from the perpetrators.

The investigation began when the Reserve Bank of India (RBI) manager filed a formal complaint in October after discovering Rs 2,000 notes with manipulated serial numbers and series codes. This prompted the Halasuru Gate Police to initiate a thorough investigation into the matter.

On October 24, police apprehended the first suspect in Cubbonpet, who confessed to depositing 40,000 altered notes in banks for commission payments. His statement led investigators to two accomplices who were subsequently arrested near Mysuru Bank Circle.

The investigation expanded when police detained three more suspects near Majestic Bus Stand on October 25, who had reportedly transferred Rs 8 lakh in Rs 2,000 notes into their accounts through deceptive means.

According to police findings, the criminal operation targeted individuals still holding withdrawn Rs 2,000 notes. The perpetrators convinced victims that notes from specific series (M, N, O, P, and G) printed in 2018 possessed special properties. They claimed that through ritualistic ceremonies, these notes would multiply hundredfold, metaphorically "raining money" for the owners.

By October 28, authorities had arrested three additional suspects from various locations across Andhra Pradesh and seized Rs 6 lakh in Rs 2,000 notes. Another significant arrest occurred in Yeshwantpur, where police detained an individual allegedly responsible for altering serial numbers and print dates on the notes using specialized equipment, which was confiscated along with Rs 6 lakh in counterfeit currency.

In total, the operation resulted in ten arrests and the seizure of Rs 18 lakh in demonetized Rs 2,000 notes. All suspects appeared before the court on November 3 and were remanded to judicial custody. Law enforcement continues to search for one remaining female suspect connected to the scheme.