Fake currency racket busted, four held

Chennai, Sep 26 (UNI) The greed for making quick money landed a four-member gang, involved in printing and circulating fake currency notes, in the police net in the city.

Police sources said the racket was busted after a customer of a foreign bank deposited Rs 25,000 in the denomination of Rs 500, using fake currency notes.

After getting definite leads by questioning the bank customer, police found that the amount was withdrawn from a private bank, where a garment exporter had deposited it.

The team zeroed in on the exporter, Sabir Ahmed, who spilled the beans about the fake currency racket and admitted that he had deposited fake currency valued at Rs 1.50 lakh in the private bank and withdrew genuine currencies.

Police arrested Sabir Ahmed, his friends Babu, Michael Murray and Subash, who were involved in the racket. Later, the team seized computers, scanners, printers used for printing besides vehicles and counterfeit notes from a godown.

City Police Commissioner Ms Letika Saran congratulated the police team and viewed the fake notes displayed at the Egmore police station.

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