Three held for faking it!

Cops arrest three for circulating counterfeit notes in the city; recover Rs 1,72,500 in fake currency from their possession

Cops arrest three for circulating counterfeit notes in the city; recover Rs 1,72,500 in fake currency from their possession

Yesterday, the Kothanur police arrested three men for circulating counterfeit notes in the city.

Also, the cops recovered fake notes worth Rs 1,72,500 from their possession. The notes were in denomination of Rs 500 and Rs 1,000.

Those arrested have been identified as Binod Prasad (40), Raindar (23) and Basant Prasad (60) from Bihar According to police, these men were living in Thannisandra with their associates.

(From left)Basant, Raindar and Binod who were arrested yesterday. The cops recovered 315 fake Rs 500 notes and 15 fake Rs 1,000 notes from them

Meanwhile, preliminary investigations have revealed that the fake notes were printed in Pakistan and were brought into the city via Beergang in Nepal.

The person who supplied them fake currency exchanged genuine notes of Rs 500 denomination worth Rs 40,000 for fake notes worth Rs 1 lakh.
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Also, he exchanged a Rs 1,000 authentic note for 15 fake notes of Rs 1,000 denomination.

According to sources, the case will be handed over to the CBI after obtaining orders from the state government.

Note-worthy

S V Veerendra, a local businessman, was surprised last week when he visited the Federal Bank ATM located at R T Nagar to withdraw Rs 1,100. The ATM machine dispensed two Rs 500 notes and a Rs 100 note. However, out of the two Rs 500 notes, one turned out to be a fake.