Int'l fake currency racket busted in Delhi, ex-Bulgarian army officer nabbed

The Delhi Police's Special Cell has arrested a former Bulgarian army officer running the international Fake Indian Currency Notes (FICN) racket in the national capital, the police said on Friday.

The accused identified as Ruslan Petrov Metodiev (47) was printing FICN on his own and was supplying/circulating them to his receivers in Delhi/NCR.

The police said that they have also recovered Rs 8 lakh, all in the denomination of Rs 500 notes, from the possession of the accused, who was residing at Palam Vihar in Gurugram.

Sharing the details, the Special Commissioner of Police (Special Cell), H.G.S. Dhaliwal, said the police received information regarding circulation of FICN by the members of an international syndicate in India.

"Accordingly, a police team was deputed to check on the activities of the suspected members of this syndicate. During surveillance, it was revealed that a foreign national staying in Gurugram was involved in the circulation of fake currency notes in various parts of India with connivance of other members of this cartel based in different countries," Dhaliwal said.

On June 21, specific input was received that the foreign national will come to the Ganda Nala on Najafgarh-Kapashera Road to deliver a big consignment of FICN to his contact named Ashaiba.

"A trap was laid and Metodiv was apprehended with FICN equivalent to Rs 8 lakh in his possession," said Dhaliwal.

On interrogation, it was revealed that he printed the notes at his flat in Palam Vihar.

"During a search of his house, the materials/equipment used for printing FICN and cash to the tune of Rs 1,89,000 derived from sale proceeds of FICN were recovered," the officer said.

"He also disclosed that he was part of a big international FICN racket. The accused is a permanent resident of Bulgaria and came to India first in 2018. He again came to India in 2019 and was arrested by the police in a case of cheating and forgery under the IT Act for putting a skimming device in an ATM of HDFC Bank," Dhaliwal said.

In January 2021, Metodiv was released on bail. However, during his stay in jail, he came in contact with certain persons who were involved in printing and circulation of fake currency.

"Earlier, he would deliver FICN to various persons in Delhi/NCR on the instructions of his handlers sitting in different parts of the world. Later, after recognising the high demand for FICN and the margin of profit, he started printing FICN on his own and began supplying/circulating them to his receivers in Delhi/NCR. He learnt the art of printing FICN on YouTube," the officer said.

As per the police, Metodiev is a permanent resident of Sofia, Bulgaria. After his schooling in Bulgaria, he joined the Army in 1996 and served for six years. In 2018, he visited Goa to explore the possibility of business. In 2019, Metodiev again came to India and started a business of doughnuts, but did not receive a good response.