Police bust inter-state fake currency racket

Mumbai: Police here on Tuesday claimed to have busted an inter-state fake currency racket by arresting a person hailing from West Bengal and seized counterfeit notes worth Rs 2.7 lakh.

Acting on a tip off, police laid a trap and nabbed Miraz Haidar Shaikh near Dhanshyam Tower in suburban Borivali yesterday.

During frisking, high quality counterfeit notes in Rs 1000 and 500 denominations worth Rs 2.78 lakh were found in his possession, police said.

Shaikh, hailing from West Bengal and a resident of suburban Kandivali here, had received the fake notes from his associate in his native place to circulate them in the market, police said.

Police are verifying if Shaikh had any criminal background and since how long has he been operating in the city.

Last month, Maharashtra ATS had nailed two persons hailing from Uttar Pradesh and seized counterfeit notes worth Rs 10 lakh.

These two had also collected the fake notes from their West Bengal's associate, who had brought the currency from neighboring Bangladesh, police said.