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Fake currency racket busted in Kolkata, four held

Four people, including two Nepalis, were arrested today for being allegedly involved in a fake currency racket.

kolkata Updated: Jun 11, 2010 17:11 IST

Four people, including two Nepalis, were arrested on Friday for being allegedly involved in a fake currency racket and counterfeit notes with a face value of Rs.47.18 lakh were recovered, police said, hinting at a Pakistani link to the racket.

Acting on a tip-off, Special Task Force officials arrested Upendra Chowdhury and Kumar Gautam of Nepal and Nausad Khan and Jafar Ali Khan of Bihar from 6 Chowringhee Lane near New Market. Fake Indian currency in the denomination of Rs.1,000 and Rs.500 were seized from them, said STF chief Rajiv Kumar.

The four were caught from a shop in New Market and the fake notes were recovered later. They came to the city to hand over the consignment to another party in the business heart of the city, said Kumar.

"Upendra was the main supplier of the fake currency in India and has earlier been booked in several cases in India and abroad. Upendra is known to be a close aide of Yunish Anshari, son of a former Nepal minister and the kingpin of the racket," said Kumar.

"Recently Upendra was accused of supplying a consignment of fake Indian currency notes worth Rs.1.6 crore, which was seized in Malaysia," the STF chief said.

He added that the needle of suspicion was pointing towards Pakistan's Inter-Services Intelligence (ISI).

"This time we are suspecting an ISI link with the racket," Kumar said.

The immaculate design and printing quality of the seized counterfeit Indian currency notes suggests an ISI role, an STF officer said.

First Published: Jun 11, 2010 16:44 IST