Ludhiana police have arrested two people on charge of smuggling and distributing fake Indian currency printed in Pakistan. Police also seized fake currency with a face value of Rs 25,000 from their possession.
Those arrested were Gurcharan Singh of New Shiva Ji Nagar and Manjit Singh of Prem Nagar. Gurcharan is a scrap dealer and also an accused in opium peddling case. Manjit Singh is a fruit vendor.
Kingpin Ranjit Singh alias Jeeta hails from Delhi. He managed to flee the spot. He has a hideout at Urban Estate, Jamalpur.
The police have launched a manhunt for his arrest.
The arrested have confessed that they have circulated around Rs 5,000 in fake currency in the market.
Addressing a press conference here on Friday, ADCP city-1 Manjit Singh Dhesi claimed that the police have arrested the duo from the bridge over Buddha Nullah in Salem Tabri area on Thursday evening.
According to the ADCP, Jeeta has connections in Pakistani Intelligence agency ISI. He used to smuggle the fake Indian currency through the Nepal border via Jharkhand.
He was arrested with Rs 3.15 lakh in fake Indian currency in 2011 by the division number 7 police. After getting bail from the court, the accused again started smuggling the fake currency.
"He used to give Rs 55,000 in Indian currency to the ISI agents and used to bring Rs 1 lakh in return. He has established many couriers of fake currency and used to sell fake currency of Rs 1 lakh in return of Rs 65,000 to the couriers," claimed the ADCP.
Inspector Gurbans Singh Bains, SHO of the Salem Tabri police station, said according to the information provided by the accused, Jeeta had made around five transactions of fake currency through Nepal border and in every transaction he had procured nearly Rs 3 lakh in fake India currency.
The accused still possessed fake currency in large amount with him.
Police are in a tizzy as the fake currency is near exact replica of Indian currency and it is quite difficult to differentiate between the two.