Supreme Court Rejects Bail for Bulgarian National in Counterfeit Currency Case
The Supreme Court denied bail to Bulgarian Ruslan Petrov Metodiev for his alleged involvement in a counterfeit currency racket in Delhi. Metodiev was caught with Rs 8 lakh in fake Rs 500 notes. The court emphasized the gravity of the crime's impact on the economy and the risk of him absconding.
- Country:
- India
The Supreme Court on Wednesday turned down a bail plea from Bulgarian national Ruslan Petrov Metodiev, accused of orchestrating a counterfeit currency racket in the national capital of India. The court's decision cites the detrimental economic implications posed by such activities.
Metodiev was apprehended on June 21, 2023, during a police raid prompted by intelligence reports indicating his involvement in the distribution of Fake Indian Currency Notes (FICN). Law enforcement seized Rs 8 lakh in counterfeit Rs 500 notes from him.
The Delhi High Court had previously dismissed Metodiev's bail plea in March 2023, underscoring the severe threat his alleged crimes presented to national stability. The discovery of a sophisticated counterfeiting setup at his residence, alongside substantial digital and forensic evidence, reinforced the prosecution's case.
(With inputs from agencies.)
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