City police apprehended a gang suspected to have been circulating fake Indian counterfeit currency (FICN) here and seized Rs. 5.03 lakh of fake notes.

Displaying the seized FICN in denominations of Rs. 500 and Rs. 1,000, on Saturday at the police commissionerate, joint commissioner of police (west) K. Shanmugavel said a car was intercepted on the Erukkanchery High Road on Friday evening after specific information was received.

The team found FICN of superior quality in the vehicle which can be identified as fake only under ultraviolet rays. Munaf led the police team to his accomplices, Wasim Raja (24) and Abdul Ismail (22), both from Mannadi. The trio revealed the identity of the kingpin, Mohammed Rafeeq of Vyasarpadi, a resident of a rented house in Sivasankaran Street, Kodungaiyur. Investigators reached the house but Rafeeq had fled. The team found more notes and hotel receipts from stays in Kolkata.

“He is wanted by the Central Crime Branch in another case. He is suspected to have smuggled the fake notes from Kolkata to Chennai,” Mr. Shanmugavel said.