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Cops move bank to bank

NAKA POLICE nabbed a Nepal-based businessman Govind Agrawal with Rs 1.25 lakh of fake Indian currency here on Monday. But, what made cops move from bank to bank was the near-real fake currency, which even tellers couldn?t tell.

india Updated: Apr 18, 2006 00:44 IST

NAKA POLICE nabbed a Nepal-based businessman Govind Agrawal with Rs 1.25 lakh of fake Indian currency here on Monday.

But, what made cops move from bank to bank was the near-real fake currency, which even tellers couldn’t tell.

Agarwal was on his way to Rajasthan to dispose of the currency worth Rs 1.25 lakh. The cops recovered 100 and 50 notes of Rs 1000 and Rs 500 denominations, respectively.

Despite rigorous quizzing by the local police and the Intelligence team, Agrawal did not reveal about the prime source from where he used to receive the fake currency. However, the senior officials claimed that the currency was being printed in Pakistan and was flooded in various parts of India through Nepal.

Agrawal had earlier been arrested several times in Bahraich and Rajasthan for smuggling of electronic goods and clothes.

CO Qaiserbagh Ajay Mishra, who led the team engaged in operation, said that they had specific tip-off about Agrawal engaged in fake currency racket. Mishra said the information had then revealed that Agrawal used to travel frequently between Sidhhartha Nagar and Lucknow. The trader then used to catch a train or a bus for his destinations like Rajasthan, Delhi and Madhya Pradesh to deliver the consignment.

Following information that Agrawal had moved from Siddhartha Nagar in a bus for Lucknow Mishra formed a team and laid a trap around Charbagh bus station. As Agrawal stepped out of the bus, the policemen in plain clothes caught him.

Agrawal was taken to the Naka Police Station where the cops recovered the currency concealed in a pocket of his undergarment.

Senior cops quizzed Agrawal to know that he runs a shop of electronic goods at Krishna Nagar in Nepal. He also revealed that he was engaged in smuggling goods and was dealing in fake currency for past five years.

Though the cops applied force to explore detail information about the kingpin and other gang members involved in the fake currency racket Agrawal merely revealed name of his brother-in-law.

He said that he used to get fake note of Rs 100 in exchange of the genuine one of Rs 50. He further revealed that he used to earn double of the amount from others.