Fake note exchange racket Busted-One arrested

New Delhi Nov 18: The Delhi Police have busted a fake note exchange racket and have arrested a person in this regard on Thursday.

Police have said that "we have busted an international syndicate smuggling in fake notes from across the border and circulating them in Delhi and elsewhere."

They have added that "we have arrested a person and was identified as Kashid (54) from Malda, West Bengal.We have seized Fake currency of Rs 6.6 lakh face value was found in denominations of 2,000 — 330 notes in total."

Delhi police have added that he has revealed some crucial details during the investigation and said that "the person confessed that he was in the business for 15 years and supplied fake notes to Delhi, UP and Bihar."

"The man procured the notes from a Pakistani, who threw it over border fencing, at the rate of Rs 30 per 100 notes. He sold them further at the rate of Rs 45. He was selling the Rs 2,000 notes for Rs 900. Many others from his village of Gopal Nagar were involved too".They added.

Sources reveal that the consignment of fake notes of RS 2000 are out in the market but no new Rs 500 fake notes are still available.

DCP (special cell) P S Kushwah has said that " the notes were of very fine quality with security threads and watermarks, and it was tough to differentiate them from real ones. But there were some evident flaws if scanned in bulk. For example, 250 of the seized notes bear the same serial number and 80 of them have four common serial numbers".

A case was registered against Kashid and investigation is on and further details awaited.