New Delhi, February 7: The National Investigation Agency (NIA) has filed a supplementary chargesheet against another accused in an international case related to the seizure of high-quality fake Indian currency notes (FICN). This case is linked to a major syndicate operating from Pakistan and Nepal, which aimed to undermine India’s economic stability.
Mohammad Fasi Uddin, a resident of Hyderabad, is the fifth accused to be charged by the NIA in this matter. The investigation commenced after approximately ₹2 lakh worth of counterfeit notes were recovered from the Banjaria police station area in East Champaran district, Bihar, in 2024. The NIA has invoked various sections of the Indian Penal Code (IPC) and the Unlawful Activities (Prevention) Act (UAPA) in its charges filed in a special court in Patna.
The investigation revealed that Mohammad Fasi Uddin was arrested in August 2025. He was involved in transferring crime proceeds to an organization based in Pakistan. The accused was making payments to a Pakistani national using cryptocurrency. He was actively engaged in smuggling fake currency across the India-Nepal border, collaborating with previously charged accused Mohammad Nazar Saddam. According to the NIA, this syndicate was smuggling high-quality counterfeit notes from Pakistan into India via Nepal, intending to destabilize the country’s financial system.
Earlier, in August 2025, the NIA had filed charges against Mohammad Nazar Saddam, Mohammad Waris, Mohammad Zakir Hussain, and Mujafar Ahmed Wani, also known as Sarfaraz. Initially, Bihar police registered a case against these accused and Rajesh Sahani in September 2024. During the seizure, Nazar Saddam, Waris, and Zakir were arrested by Banjaria police, while Sarfaraz was apprehended later. In December 2024, the NIA took over the investigation, considering it a matter of national security.
The NIA’s investigation revealed that the accused were receiving counterfeit notes from Pakistan-based entities through handlers in Nepal. Cryptocurrency was used for payments to complicate tracking efforts. This network extended to other states, including Jammu and Kashmir. The NIA confirmed that Fasi Uddin made several trips to Raxaul and Nepal, where he met with co-accused to strategize smuggling operations.
The NIA stated that the investigation is ongoing, with a thorough examination of other members of the syndicate and the Pakistani-Nepali connections. Security agencies are increasing vigilance in border areas to thwart such international gangs.