Four held with Rs 46,500 in fake currency

NOTE-WORTHY TRAP

Mateen Hafeez I TNN

Mumbai: The anti-terrorism squad (ATS) on Tuesday arrested four persons for possessing fake currency valued at Rs 46,500 from Mankhurd. The suspects had planned to circulate the fake notes in Vashi’s APMC market. According to investigators, the notes, which are in the denomination of Rs 1,000 and Rs 500, could have been printed in a Pakistani press.

“We received a tip-off that four persons who would be gathering near the Mankhurd bridge with fake currency. A trap was laid and the four were arrested,’’ said inspector Ravindra Doiphode.

The arrested accused have been identified as Ibrahim Shaikh (25), Barkat Bhola Shaikh (19), Samphuna Javed Shaikh (25) and Matiur Shaikh (30). Ibrahim hails from West Bengal while the other three are natives of Sahebganj district in Jharkhand.

“Ibrahim and Barkat were arrested in Hubli by the Karnataka police in 2007 for circulating fake currency. The duo was granted bail on December 21, 2009. Within days of their release, they again started dealing in fake currency,’’ added Doiphode.

The accused have told the investigators that they were promised a commission of 30% to 40%. The security features on the fake notes are 90% similar to that on genuine notes, said an official.

“The notes are suspected to have been printed in a press in Quetta, Pakistan and smuggled to India via Bangladesh. The mastermind in this case could be Tahoor Ali whose racket was busted by the local police two months ago,’’ said an officer.

The Times of India, January 7, 2010