Bengaluru: Police have busted a fake currency printing racket by arresting three accused and recovered fake currency notes worth Rs 6.5 lakh from their possession in Karnataka capital Bengaluru, officials said on Monday. An official said that the arrests were made by Bengaluru's Cottonpet Station police following specific intelligence inputs over the circulation of fake notes in the city.
The arrested accused have been identified as Saravanan from Tamil Nadu, Nithin, and Devan from Kerala. From their possession, a total of 1307 fake currency notes of Rs 500 denomination worth Rs 6,53,500 were seized by the police as per an official. He said that the arrests were effected by a team led by Inspector Balaraj of Cottonpet police station.
Also read: Banned currency notes worth Rs 1 crore seized at Kerala's Kasaragod
An official said that during preliminary investigation, it has come to light that the accused used to smuggle the fake currency notes from Bihar and circulated them in Bengaluru. The accused used to contact customers through Instagram accounts named 'Fake Currency Tamlinadu' and 'Motohaker.93', police said.
During the investigation, it was revealed that the accused had committed an illegal act by giving fake notes of Rs 1 lakh along with 25,000 original notes to the people. Bengaluru City Police Commissioner Dayanand said that the accused used to exchange fake notes in crowded areas such as railway stations and bus stands.
The DCP said that accused Saravanan, who was dealing with everything through Instagram, went to Bihar and got Rs 3 lakh original notes for Rs 10 lakh fake notes and brought them to Bengaluru. The fake currency racket comes days after police recovered 2000 fake notes worth Rs 10 crore on the outskirts of Bengaluru along the Kanakapura Road.
