Cops bust fake currency racket,arrest 11,seize over Rs 4 lakh

Mumbai Police Crime Branch has busted a fake currency racket which stretches from Mumbai to Jharkhand. While fake currency worth over Rs 4 lakh was seized,11 people were arrested in connection to the crime.

Written by Express News Service | Mumbai | Published: August 20, 2013 1:53 am

Mumbai Police Crime Branch has busted a fake currency racket which stretches from Mumbai to Jharkhand. While fake currency worth over Rs 4 lakh was seized,11 people were arrested in connection to the crime.

Officials said the racket was busted on August 10,when the Crime Branch got a tip-off that two people would be coming to Mumbai Central area with fake currency. The police laid a trap and arrested Raees Kadu (28) and Rizwan Shikari (21). The duo had Rs 30,000 in fake currency with them,police said.

“During interrogation,we identified six more accused based in Raigad and Dapoli. All six were picked up and brought to Mumbai on August 11. We recovered a total of Rs 3.77 lakh in fake currency from them,” said a Crime Branch officer.

The six accused have been identified as Ahmed Shirgavkar (35),Sufiyan Havaldar (28),Zaid Jamdar (32),Sajid Jhombarkar (32),Suleman Nivrekar (29) and Rajesh Lingayat (30). Police said that Shirgavkar was the one who had given the fake currency to Kadu to circulate. Kadu gave it to Shikari and the other five accused,instructing them to circulate it in their respective towns.

Kadu also told police that he had given Rs 50,000 in fake currency to his friend Rauf Sheikh (44),who was also later arrested.

“Sheikh works for a businessman in Mumbai and had slipped the fake currency in a packet containing his employer’s money. His employer unknowingly used the currency at a casino in Goa. The notes were detected and seized by the casino management,” the officer said.

Shirgavkar revealed the source of the currency — Haider Sheikh (35) and Samrul Sheikh (34) — both from Jharkhand. They were arrested and brought to Mumbai on August 16.

The 11 accused have been remanded in police custody till July 23,the police said.

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