Fake currency racket busted in Palghar; four arrested

Updated: Feb 09, 2019, 15:48 IST | Samiullah Khan

The gang have been making fake currency and luring people into their scam by offering Rs 4 lakh of fake currency of Rs 2000 denomination in exchange of real currency of Rs 1 lakh

Fake currency racket busted in Palghar; four arrested
Pic courtesy / Hanif Patel

The local Crime Branch of Palghar have arrested four men in a fake currency racket involviong Rs 2000 denomination at a rented apartment in Safale on Thursday evening. The cops seized six fake notes and other materials such as pots, papers and chemicals used to make fake currency.

fake currency

The arrested men have been identified as Balraj Gudse (44) from Telangana, Rajyog Surampudi (44) from Andhra Pradesh, Abraham Chinta Palli (37) from Andhra Pradesh and Nathuram Dhumada (48) from Vasai. The cops are still trying to nab the absconder identified as Arjun Baraf.

Palghar cops were alerted by informers after they learnt about a group of people from Telangana and Karnataka, who were making fake currency and luring people into their scam by offering Rs 4 lakh of fake currency of Rs 2000 denomination in exchange of real currency of Rs 1 lakh. A police officer said, "In a bid to win the trust of the people, the gang would first give them the original currency to spend in the market. Since those people faced no problems in circulating the original currency in the local market, they used to fall into their trap and would purchase fake currency from them.

The officer added, "Based on the tip-off, we raided Dodhipada area of Safale and caught four men red-handed while one managed to escape."

The accused have been booked under relevant sections of 120(b), 489(a), 489(d) and 481(e) of IPC and have been transferred to Safale police station for the further investigation the official added further.

Read Also: Fake currency racket busted in Kolkata, four arrested

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