New Delhi, Mar 4: A fake currency racket that was busted in Thiruvananthapuram in Kerala has found its routes to Sivakasi in Tamil Nadu. During the investigation the police have learnt that the notes were printed in Sivakasi and sold across the state of Tamil Nadu and Kerala.
The police have further learnt that currency worth Rs 1 lakh was being sold at Rs 30,000.
The police say that inter-state racket has led them to another hub in Kannur where the notes were being printed. We are still investigating the case and it appears that this racket is major one. The accused persons were printing only the Rs 1,000 denomination notes.
Busting the case:
A person by the name Pradeep had mortgaged his car for Rs 2 lakh at Petttah in Kerala. Pradeep then intimated the person with whom he had mortgaged the car to meet him as he wanted to pay off the money. Pradeep went along with four others and handed over a bag with the money to this person.
As he began counting the notes, he realised that the entire amount contained fake currency. He was manhandled when he protested. The gang fled the spot following which he informed the police who in turn launched a man hunt and apprehended the accused persons. Upon investigation they told the police about the entire modus operandi.
The accused persons said that there is a unit in Sivakasi where these notes are being printed. The quality of the notes is not of great quality and can be easily detected. Normally these accused persons would slip in a few fake notes between genuine ones.
There have also been several cases where these persons have raised personal loans from local money lenders. Upon repayment they would give fake notes and in case of a protest the gang would overpower the lender and flee.