Daijiworld Media Network - New Delhi

New Delhi, Aug 12: In a major development in the 2024 Champaran fake currency case, the National Investigation Agency (NIA) has filed a supplementary chargesheet against four individuals allegedly linked to a transnational racket smuggling counterfeit currency from Pakistan via Nepal into India.

The chargesheet, submitted to the NIA Special Court in Patna, names Md. Nazar Saddam, Md. Waris, Md. Zakir Hushain, and Muzaffar Ahmad Wani alias Sarfaraz. All four have been booked under provisions of the Unlawful Activities (Prevention) Act (UAPA) for their alleged involvement in smuggling and circulating Fake Indian Currency Notes (FICN).

Cross-Border Network Uncovered

The NIA investigation revealed that the accused were part of a well-organised cross-border syndicate:

• Counterfeit notes were reportedly sourced from Pakistan-based operatives
• Nepali intermediaries were used to funnel the currency into India
• Cryptocurrency channels were employed for payments to evade detection

The case originated from a seizure of FICN worth Rs 1.95 lakh in Bihar’s Champaran district in 2024. Local police initially filed charges in October that year before the NIA formally took over the probe in December 2024, citing national security implications.

Roles of the Accused

According to the NIA:
• Nazar Saddam, Waris, and Zakir Hushain were directly involved in smuggling the fake currency from Nepal into Indian territory.
• Muzaffar Ahmad Wani, believed to be the financier, arranged logistical support for procurement and inland circulation of the notes.

Wani’s role also includes facilitating financial transactions through encrypted and untraceable platforms, highlighting a growing use of crypto-based mechanisms in illicit trade.

National Security at Stake

Officials said the case illustrates how fake currency rackets are being used as tools to destabilize India’s financial system, undermine public trust, and fund subversive activities.

The agency is continuing its investigation to identify further links, including overseas facilitators, local operatives, and crypto-financiers tied to the racket.

“This chargesheet is part of our larger strategy to disrupt criminal and terror-financing networks that threaten India’s economic and national security,” an NIA spokesperson said.

The case, registered as RC-17/2024/NIA-DLI, is being seen as a key front in the NIA’s battle against transnational economic crimes. More arrests and disclosures are expected as the agency widens its probe.