Fake currency racket busted,four arrested

The accused,identified as Prem Chander Parsad (33),Iliyas (47),Baleshwar Ram (34) and Ravi Kumar Sharma (32),were arrested on Tuesday afternoon.

“We had information that a gang led by Prem is engaged in smuggling fake currency notes into India. A decoy customer struck a deal with the gang for delivery of Rs 10,000 in fake currency,on payment of

Rs 6,500. Prasad,Ram and Ilyas were nabbed from Nand Nagari. Later,we arrested Sharma,” said Sanjay Kumar Jain,Deputy Commissioner of Police (Crime).

During interrogation,the accused reportedly told police they had bought fake notes from a Pakistani national — Shamim.

“The gangsters used to get two kinds of fake notes — one with the security thread and the other without it. Rs-1,000 notes with the security thread would cost them Rs 550 each while the same notes without the security thread would cost Rs 510 each,” Jain said.

The accused would insert silver bromide security threads in fake notes without the thread.

Police said the paper and ink on the fake notes was very good. “It is apparent that the notes have been printed at a sophisticated facility. The availability of separate fake security silver bromide threads is also being investigated,” Jain said.

Prasad was in touch with Shamim and had known him for a long time. He had been supplying fake notes to his contacts in Punjab and Delhi,police said.