Ex-serviceman and lawyer held in Chennai for circulating fake currency notes; 90 bundles seized

Annamalai had been part of an armed force for about 10 years before being declared a deserter and dismissed from service, according to the police.

The DCP said that Subramanian had got counterfeit notes with a face value of Rs 50 lakh printed at a local press. “As per Subramanian’s confession, he printed these counterfeit notes about five months ago. He said that about Rs 5- lakh fake notes had already been circulated,” he added.

The DCP said that Subramanian had got counterfeit notes with a face value of Rs 50 lakh printed at a local press. (Express photo)

In his complaint, Mani, the flower seller, said he had seen Annamalai four or five times at his shop. The police noted that despite his home being closer to the Koyambedu wholesale market, Subramanian had sent Annamalai to a shop near Valluvar Kottam to exchange counterfeit notes.

The DCP added that the police would see if more people were involved in circulating the fake notes. “The seized counterfeit notes look like colour xerox copies printed on high quality paper. None of the security features present on the RBI notes can be found on these fake notes. So even the general public can identify these notes as fake. If people have any suspicion, they can check with a nearby bank and alert police if they are found to be fake.”

The DCP added that the police would see if more people were involved in circulating the fake notes. (Express photo)

A case was registered under Indian Penal Code sections 489 A, 489 B, 489 C and 489 D for counterfeiting any currency note, using counterfeit as genuine, possession of fake currencies, etc.

A printing machine, paper cutting machine, lens, money counting machine and other equipment were also seized from Subramanian’s home, the police said.