Three held with fake currency notes of small denomination

LUCKNOW: Contrary to the perception of police and law enforcement agencies, the fake currency notes of small denominations are also in circulation in the state capital. Police officials confiscated 34 fake currency notes of ₹50 of the face value of ₹1,700 from the city outskirts in a Sarojininagar village here on Sunday.

The police arrested three villagers possessing these fake notes which according to them were provided by some unknown person for circulation in the open market.

Police officials said the initial trend was of circulating higher denomination notes of ₹500 and ₹2000 by fake currency racketeers but the recent arrest had revealed the new trend of circulating fake notes of smaller denominations on the city outskirts.

Additional superintendent of police (ASP) east Sarvesh Mishra said three arrested accused were identified as Vineet Kumar alias Kallu, Deepak and Mukesh, all residents of Natkur village in Sarojininagar. He said the fourth person of the same locality identified as Sarvjeet managed to escape when the police team raided there.

He said the three accused revealed during interrogation that these notes were provided to them by a person who visits them every month and asks them to circulate it in the open market. He said the trio has revealed some details of the person who supplied them fake currency of the face value of ₹5000 in return of ₹3000 original currency.

Mishra said initial probe suggested the trio has circulated many similar fake notes in the market by using it for purchasing different items or getting it exchanged by for other smaller denomination notes of ₹20 and ₹10. He said the specialised agencies like Anti Terrorism Squad (ATS) and Special Task Force (STF), who have been working on the FICN rackets regularly, have been informed about the seizures and arrest.

A senior ATS official said the fake currency racketeers preferred to circulate high denomination notes according to the common trend observed in the recent past. He said fake currency notes of smaller denomination are less in circulation.

“It is alarming trend that fake currency notes of small denominations are also been circulated as it is tough to identify them and people easily accept small denominations without verifying its authenticity,” he said.