Four individuals, including two cousins, were arrested by Delhi Police on Wednesday in the Wazirpur area of northwest Delhi for allegedly possessing demonetised currency worth Rs3.59 crore and cheating people with false promises of exchange through the Reserve Bank of India (RBI).
The accused have been identified as Harsh (22), Lakshya (28), Vipin Kumar (38), and Tek Chand Thakur (39). Acting on a tip-off, police intercepted the group near Gate No. 4 of the Shalimar Bagh metro station while they were allegedly on their way to deliver the banned currency to a prospective buyer.
Deputy Commissioner of Police (Northwest) Bhisham Singh said large quantities of demonetised Rs500 and Rs1,000 notes were recovered from the accused, along with two vehicles believed to have been used in the operation. Investigations revealed that all four men were known to each other, with Harsh and Lakshya being cousins.
“During interrogation, the accused admitted they were selling demonetised notes at heavily discounted rates by falsely claiming the currency could be exchanged at the RBI using Aadhaar cards. This clearly establishes a case of cheating,” the DCP said.
Police added that the group was expecting to receive around 20% of the total value of the currency from the buyer they were heading to meet.
Further investigation revealed varied personal motivations behind the crime. Harsh, an unemployed BA student, allegedly joined the scheme in search of quick money. Tek Chand Thakur, a former gym trainer, reportedly faced financial hardship after losing his job and being left to care for two children following his wife’s departure.
Lakshya, a graduate, was under pressure to repay a loan borrowed from his fiancée for wedding-related expenses and allegedly partnered with Tek Chand to execute the plan. Vipin Kumar, who works in a private firm, also joined the operation hoping for fast financial gains.
During questioning, the accused disclosed that they had been in contact since 2021 with two men identified as Ashish and Tarun, who allegedly possessed demonetised currency worth several crores. The duo reportedly offered a substantial commission to help circulate the banned notes. Police have launched a manhunt to trace and arrest Ashish and Tarun.
