The police say that fake notes worth Rs 1,75,000, including 22 series of Rs 500 notes and seven series of Rs 100 notes, are in circulation in Delhi and Uttar Pradesh. The five men were arrested after the police received a tip off and sent a decoy to Model Town. Following a raid at a second-floor office in Govind Market, counterfeit notes worth Rs 3,15,800, a computer, software used to scan the notes, a scanner and sheets, to be converted into fake notes, were recovered. While four of the accused were arrested during the raid, the fifth was nabbed at his house in Akbar Pur village.

They have reportedly confessed that the fake notes were being exchanged at the ratio of 1:2 in the market, which increased to 1:4 in case of a bulk exchange. Interrogations have revealed that the five men learnt about printing fake notes from a resident of Rudrapur, UP. Police teams have been sent to UP to arrest this person.