Fake currency with Rs 7.32 lakh face value seized

In a major breakthrough post demonetisation, the Visakhapatnam police here on Thursday arrested three persons and seized Rs. 7,32,500 fake currency from them.

Using four or five original currencies of denominations of Rs. 2,000, Rs. 500 and Rs. 100, the trio produced about Rs. 9 lakh fake currency.

According to reports, the notes were all in Rs 2,000 denomination and sealed in "fake SBI packets".

Mamaur Mollah who is from Joypur was carrying about Rs 26,30,000, Sheikh Eklash Ahmed had Rs 12,20,000 and Sheikh Abdul Kalam Azad from Domjur Howrah was Rs 8,10,000, Syed Rehan has Rs 6,08,000 thousand and Balai Mandal from Bankura was carrying Rs 4,06,000. They had booked a few expensive cellphones from a shop in Fancy Market.

The Joint Commissioner said that though it is hard to check all the security parameters, photocopied notes can easily be identified, as watermark of Mahatma Gandhi would not be there on them. The police have also confirmed that around Rs 1.7 lakh worth of fake currency notes were already in circulation.

Police is still investigating the matter.

The accused were arrested from the spot which led the police to the fake notes. Addressing the media in the city, joint commissioner of police A Sattar Khan said Srinivas was an accused in a murder case in Rajahmundry in 2014.

The investigation will focus on the source of the fake currency.

Hindustan Times reported that as many as 10 out of 17 security features of a Rs 2000 note have been copied in the FICN.

  • Zachary Reyes