Fake currency nexus busted, three held with fake currency | punjab | Hindustan Times
Today in New Delhi, India
Apr 26, 2017-Wednesday
New Delhi
  • Humidity
  • Wind

Fake currency nexus busted, three held with fake currency

punjab Updated: Apr 11, 2015 22:09 IST
HT Correspondent

The Patiala police claimed to have busted a fake currency racket by arresting three people from Rajpura on Saturday.

The police also recovered fake currency of the total denomination of Rs 1.58 lakh from the possession of the accused identified as Prem Chandra, Ram Parves and Pawan Kumar, all natives of Bihar. The three had been putting up in Patiala.

Superintendent of police Jaskiranjit Singh Teja said the accused were on their way to Patiala and were bringing the fake currency from New Delhi on Friday night. On a tip, the police laid a special check-post on the Rajpura-Ambala road and apprehended the trio.

"The fake currency in their possession seemed to have been prepared using very high-quality equipment and modern technology. There is very little difference between the notes they have made and the genuine currency. Shopkeepers are liable to be easily cheated," a police source said.

Preliminary investigation has revealed that the accused used to circulate the fake notes after buying stuff from local markets and getting the change in original bonafide notes.

"The three accused used to operate in different towns and targeted the busiest shops. They purchased stuff worth Rs 100 and then offer a Rs 1,000 fake note. This way, they received Rs 900 for a worthless fake note," Teja said.

Teja said the trio has confessed that they managed to circulate fake currency in the denomination between Rs 15,000 and Rs 20,000 in the market on a daily basis.

"The fake currency was originally being bought from the Naxal-hit area in the Bettiah district of Bihar via Delhi and the accused have confessed that they fake bought currency in the denomination of Rs 1 lakh for Rs 45,000," Teja added, claiming the Bihar police had also been contacted to help in investigation as the accused have been actively running the gang for several months.