Rs.14L counterfeit currency racket busted
Lucknow, June 10 -- In what police describe as an attempt to flood the market with counterfeit currency, Lucknow police arrested three alleged operatives of a fake currency exchange racket and seized counterfeit notes with a face value of nearly Rs.14 lakh.
The suspects were arrested while waiting to deliver a large consignment near Ghaila bridge in the Madiaon area on Tuesday.
"Acting on a tip-off, a police team intercepted the trio near a tin shed in an open field and recovered 8,348 counterfeit notes worth Rs.13.95 lakh," said DCP (North) Gopal Krishna Choudhary during a press conference.
The haul included 1,402 fake Rs.500 notes and 6,946 fake Rs.100 notes, bundled in several packets.
According to the DCP, the gang's business model was straightforward: they swapped counterfeit currency for genuine cash, retained a commission and passed the fake notes further down the supply chain.
"The accused were involved in converting fake currency into real money through a network of associates. This seizure has prevented a substantial quantity of counterfeit notes from entering circulation," added SHO Shivanand Mishra.
The arrested individuals were identified as Alok Singh, 21, Sonu Gond alias Golu, 25, and Brijesh Vishwakarma, 35, all residents of Azamgarh district. Police noted that one of the suspects has a prior criminal record....
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