Police arrested four people and recovered Rs 4.15 lakh in fake prints of the Rs 2,000 and Rs 100 banknotes on Friday from Bhawanigarh. Police said the gang was active for three months.
The accused have been identified as Harbhajan Dass of Bhaliana village; Jasvir Singh alias Jassi of Haripura Basti, Bhawanigarh; Bhagwan Dass and Jaidev alias Jajji of Sangrur.
“Earlier they were circulating Rs 100 fake notes and started printing Rs 2,000 notes after demonetisation. All the accused are below 25 years of age,” senior superintendent of police Pritpal Singh Thind said at a press conference in sangrur on Saturday.
A white car was also recovered from the accused. “The accused had been passing on the fake currency to Gulshan Kumar and Rajesh Sharma of Sangrur; Bagga of Chika; Barjesh Kumar of Dhanas in Chandigarh and Vijay Kumar of Mangwal. They will be arrested soon. The gang has some links in Bihar as well,” the SSP said.
“The accused used normal paper to print notes and we have recovered a printer, scanner and other material used in printing fake currency notes,” said Thind.