Fake currency racket with Pak link busted

Delhi Police claimed to have smashed a fake currency racket with connections in Pakistan.

New Delhi: Delhi Police on Wednesday claimed to have smashed a fake currency racket with connections in Pakistan following the arrest of four persons and seizure of fake currency with a face value of Rs 1.35 lakh.

Investigators also claimed that for the first time, separate sheets containing fake security silver bromide threads have also been recovered from the gang.

Prem Chander Parsad (33), Iliyas (47), Baleshwar Ram (34) and Ravi Kumar Sharma (32) were apprehended yesterday afternoon on a tip-off, Deputy Commissioner of Police (Crime) Sanjay Kumar Jain said.
"We had a tip-off that a gang led by Prem is engaged in smuggling fake Indian currency notes from a neighbouring country into India. A decoy customer customer struck a deal with the gang for delivery of Rs 10,000 fake currency on payment of Rs 6,500.

"We apprehended Prasad, Ram and Ilyas from Nand Nagari. Later we arrested Sharma," Jain said.

During interrogation, he claimed, the accused told police that they they obtained their fake currency from one Shamim, a Pakistani national.
Rs 1.50 lakh cash, which is the sale proceeds of fake Indian currency notes, was also recovered from Prem`s house.

"They used to get two kinds of fake notes. One which has the security thread and the other which does not have a security thread. The one with the security thread embedded inside the note costs them Rs 550 for a 1000 rupee fake note whereas the one without the security thread costs them Rs 510 for a 100 rupee note.

"In the latter, they had to manually insert the security thread inside the note," Jain said.

He also said the paper and the ink are of good quality. "It is apparent that the notes have been printed at a sophisticated facility. The availability of separate fake security silver bromide thread is an added area of investigation in this case," he said.

"Shamim is Prasad`s contact and has known him since he lived in Motihari in Bihar. He has been supplying fake notes to his contacts in Punjab and Delhi," he said.