Counterfeit Currency Ring Busted in Greater Toronto Area
Six individuals are facing a combined total of roughly two dozen charges following the takedown of an online counterfeit currency sales ring operating in the Greater Toronto Area (GTA). The investigation, dubbed Project Mirage, was launched by Halton Regional Police in August 2025 after authorities became aware of two Instagram accounts actively promoting the sale of fake Canadian cash.
The Operation: “Film Prop Money” with Real-World Consequences
These Instagram accounts linked to online stores that advertised various counterfeit currency bundles, deceptively marketed as “film prop money.” Customers made purchases using credit cards, and the orders were then shipped across Canada. However, investigators quickly discovered that this “prop money” was being used in fraudulent activities throughout the GTA. The operation generated over $60,000 in online sales before Project Mirage successfully disrupted their illicit business.
Project Mirage: Raids and Seizures
On March 31st, Halton police executed search warrants at three Toronto residences and associated vehicles. The search yielded a significant haul of evidence, including:
- A one-ounce gold bar valued at $6,500
- 13 cell phones
- Several laptops
- Packing materials used for shipping cash
- Counterfeit currency business cards for the online shops
- Bundles of counterfeit currency (ranging from Canadian dollars to Euros)
- Tools used for creating the counterfeit cash
- Bundles of holographic security strips
Beyond Counterfeiting: Illicit Drugs Seized
The investigation didn’t stop at counterfeit currency. Police also seized a substantial quantity of illicit drugs, including:
- Over 12 ounces of cocaine
- Two ounces of MDMA
- Six ounces of methamphetamine
- 80 Xanax tablets
The Accused
The following individuals from Toronto have been charged in connection with Project Mirage:
- Rafi Ahmed, 23
- Shafi Ahmed, 24
- Levente Glonczi, 21
- David Ho, 29
- Jason Ho, 31
- Thanh Bui, 29
Ongoing Investigation
Halton police are continuing their investigation and are urging anyone with additional information to contact the HRPS Financial Crimes Unit or Crime Stoppers anonymously. This case highlights the growing sophistication of online fraud and the importance of vigilance when purchasing goods online. For more information on identifying counterfeit currency, visit the Bank of Canada’s website.
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