Updated: March 26, 2021 3:33:23 am
A 38-YEAR-OLD man was arrested by Kherwadi police on Tuesday for allegedly printing fake notes having a face value of Rs 1.35 lakh in the denomination of Rs 50 and Rs 100.
The accused, Rahul Chadwa, a sole breadwinner in his family with no prior crime record, committed the crime nine months ago after his business in the stock market collapsed due to the ongoing pandemic, said Manjunath Shinge, DCP zone VIII.
According to the police, Chadwa, a Vakola resident, lived with his ailing mother, wife and two children. A school drop-out, the accused worked in the stock market and was unable to earn much due to the lockdown.
Chadwa with the help of YouTube videos used a software, freely available on the Internet, and started making counterfeit notes at his home. He only made fake notes in the denomination of Rs 50 and Rs 100 to evade any suspicion. He spent around Rs 50,000 of such notes to pay vegetable vendors and rickshaw drivers.
“He spent the notes only after the sunset and in the rush hours to pay vendors and rickshaw drivers. As the notes were of smaller amounts, no one suspected they were fake and it’s difficult to spot the difference during night time,” said Assistant Police Inspector Sachin Suryavanshi, who arrested Chadwa, acting on a tip-off.
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