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HindustanTimes Sat,02 Aug 2014

Two held in fake currency racket

HT Correspondent, Hindustan Times  New Delhi, August 13, 2009
First Published: 22:49 IST(13/8/2009) | Last Updated: 22:51 IST(13/8/2009)

A computer programmer and a DVD shop-owner have been arrested on charges of allegedly preparing fake currency notes, police said. The Crime Branch also recovered counterfeit notes with a face value of Rs. 7 lakh (Rs 7,00,000) from them.

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The two accused have been identified as Jitender Gupta—a computer professional and a cyber cafe owner, and Deepak Sharma who runs a CD shop.

“Sharma had suffered losses in business and was finding it difficult to repay loans,” said Neeraj Thakur DCP (crime).

“Having read about recent instances of fake currency rackets, he decided to repay his loans by allegedly printing fake notes,” said Thakur.

“He roped in his friend Gupta, who runs a cyber café in the same locality. Gupta had a diploma in computer operations. They took a flat on rent in Jasola Vihar and using the expertise of Sharma, they printed fake notes," he said.

Sharma was earlier arrested in 2003 for allegedly selling pirated CDs.

A computer, printer, scanner and materials used in preparing counterfeit currency have been recovered from their possession, he said.

The other accused, Gupta, is fond of leading a lavish lifestyle and he soon came under heavy debts, said police.

"Without enough income to repay his debts, he agreed to the plan hatched by his friend Deepak Sharma to make easy money by printing fake currency notes," Thakur said.

They were allegedly involved in this crime for the last one month.

"Initially, they printed fake currency notes in small quantities and circulated it in the local market to test the quality of the notes. The accused persons fixed a couple of deals in Jitender's cyber cafe," the official said.

Gaining confidence from their initial success, he said they allegedly decided to start printing fake notes on a large scale.


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