Man held with fake currency

New Delhi, Jan 14 (PTI) A 42-year-old man was arrestedin the national capital with counterfeit currency with a facevalue of Rs 1.03 lakh, police said today.

Jagmohan, who was earlier involved in a robbery cummurder in 1999, was apprehended from Dwarka yesterday on a tipoff, Ashok Chand, Deputy Commissioner of Police (Crime), said.

Till date he has allegedly circulated fake notes witha face value of over Rs 20 lakh, Chand said.

"A decoy customer struck a deal with Jagmohan. Thecode used for the deal was ''piece''. In exchange of originalcurrency, thrice the amount of counterfeit currency would bedelivered by him," he said.

Jagmohan, who hails from Muzaffarnagar in UP, wasarrested with fake currency with a face value of Rs 2,300.

Later a search at his residence in Uttam Nagar, fake noteswith a face value of Rs 1,01,000 was recovered.

"He came to Delhi in 1991 and did odd jobs to meet hisexpenses. He took to crime and initially stole motorcycles formeeting his needs. In 1999, he along with his associates shotat two businessmen and robbed them of their cash. One persondied at the spot and the other was injured," Chand said.

While in jail in connection with the murder Jagmohanmet one inmate who gave him the idea of printing counterfeitcurrency by using computer and other accessories.

"On his release from jail in 2008, he acquired all therequired equipment and started printing counterfeit currency.

In order to ensure that the notes seemed genuine, he used inkdye for making water mark and security thread," he said.

He used to allegedly sell the counterfeit currency tohis contacts in Punjab and UP. The rate was one originalcurrency for thrice of counterfeit currency.