The Crime Branch of the Delhi Police has claimed to have busted an international gang which used to smuggle Fake Indian Currency Notes (FICN) from Pakistan via Nepal border. Three suppliers identified as Shajaha (43), Mahesh Prasad (40) and Mohammad Nisar (38) have been arrested as well.
“The police have recovered fake currency of Rs 1,000 denomination worth Rs 4.5 lakh. The accused are all residents of East Champaran in Bihar and were arrested from Adarsh Nagar Railway Station. It is believed that high quality fake currency is printed at an old currency note press in Pakistan and its circulation is managed by one Iqbal Kana, who is notorious for his involvement in illegal activities,” said Additional Commissioner of Police (Crime Branch) Ravindra Yadav.
Acting on specific information that three of the accused would be near Adarsh Nagar Railway Station to deliver a consignment, a trap was laid to ambush them. Preliminary investigations revealed that the kingpin of the gang is based in East Champaran and counterfeit Indian currency is brought in from Nepal through porous Indo-Nepal border and circulated in various parts of country through agents. This fake currency is smuggled to Nepal from Pakistan. local receiver of FICN has also been identified and further investigation is in progress to nab him.
It said the value of fake Indian currency note of Rs 1,000 denomination starts from Rs 200 in Pakistan, Rs 400 in Nepal and Bangladesh and reaches Rs 500 on entering India where it is pushed into circulation. In the National Capital Region, the value of such fake note is Rs 700. In India, the notes are easily slipped into bundles of currency being involved in hawala and black money. Stressing that high profit propels this network, police said profits so derived are used to fund anti-State activities like terrorism and narcotic trade.