Man arrested with fake currency worth ₹80 lakh

Mumbai: A man was arrested allegedly with counterfeit currency notes with a face value of ₹80 lakh in Powai on Tuesday

Mumbai: A man was arrested allegedly with counterfeit currency notes with a face value of ₹80 lakh in Powai on Tuesday.

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The accused has been identified as Saujanna Bhusan Patil, 31, of Umroli area in Palghar district.

Deepak Sawant, police inspector, Crime Branch unit 10, has received a tip-off that a person was coming with fake currency notes.

“Sawant and his team accordingly laid a trap near Ambedkar Garden on Saki Vihar Road in Powai and apprehended the suspect and seized the counterfeit currency from his possession,” Krishnakant Upadhyay, deputy commissioner of police, crime branch, said.

Patil was carrying 16,000 fake notes of ₹500 denomination, which he was supposed to hand over to another suspect.

The police are suspecting that four to five persons were involved in the syndicate that printed fake currency. “One of them believed to be the mastermind is from Nashik and we are searching for him,” said a crime branch officer.

According to the police, the mastermind had convinced Patil to circulate the fake notes in the market for a commission of 10%. Patil claimed in his interrogation that he was dealing with fake currency for the first time. However, the police are suspecting that he had distributed fake notes earlier as well.