Mumbai Man Caught Printing Fake Currency After Stock Market Losses
Mumbai, February 22, 2025: A music teacher-turned-stock trader was arrested for printing counterfeit currency in an attempt to recover his financial losses. Mumbai police, along with the Directorate of Revenue Intelligence (DRI), raided his setup in Vikhroli West and seized fake notes along with printing equipment.
Fake Notes & Printing Tools Seized
During the raid, officials found:
- 34 fake ₹50 notes and one ₹100 note (poor-quality photocopies)
- Computers, color printers, and other cyber tools used for printing
- A small 10×10-foot rented room, which he had started using just 12 days ago
Interestingly, Wad hadn’t even finalized a rental agreement, making it harder to trace him.
A Quiet Crime in a Peaceful Neighborhood
Residents of Anandgad, Parksite, were shocked by the arrest. “This area is usually peaceful. We never expected something like this to happen here,” said a local resident.
Stock Market Losses Led to Crime
Kulbir Wad, a private music teacher who also traded stocks part-time, admitted to running the fake currency operation to recover his heavy financial losses. “He had just started when he was caught,” an officer from Parksite police station revealed.
Legal Action & Nationwide Crackdown
Following a complaint by the DRI, Parksite police charged Wad under sections 178 and 179 of the Bharatiya Nyaya Sanhita (BNS) for counterfeiting currency. His arrest is part of a larger nationwide effort to crack down on fake money production.
With authorities tightening their grip on counterfeit rackets, Wad’s case serves as a reminder of how financial desperation can push people toward crime.
