Police Bust Rs 2,000 Note Scam; Mastermind and Three Others Arrested
Nagpur, India: Police have uncovered a major scam involving the exchange of demonetised Rs 2,000 notes and arrested the alleged mastermind, Anil Jain, along with three of his associates. The scam reportedly involved businessmen from Delhi, Prayagraj, and Jabalpur, who worked with Jain to exchange old currency through illegal means.
Jain, 56, a resident of Jabalpur, Madhya Pradesh, ran the racket for over a year. He allegedly used his network to collect demonetised notes from businessmen across cities like Delhi, Lucknow, Patna, and Agra. These notes were then exchanged through the Reserve Bank of India (RBI) branch in Nagpur. Jain reportedly charged a commission of ₹20,000 for every ₹5 lakh exchanged.
Police said the scam targeted poor individuals, who were paid small amounts to help exchange the notes. So far, the scam is believed to have involved crores of rupees.
Jain and his associates—Nandalal Maurya (35), Rohit Bawne (36), and Kishore Bahoriya (30)—were caught in Nagpur while exchanging the notes. Police are now tracking other suspects involved in the racket and believe more arrests will follow as the investigation continues.
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