Fake currency note racket busted, 9 held

Nine persons have been arrested for allegedly being part of a fake currency note racket with counterfeit Indian currency notes worth Rs 4.05 lakh having been recovered from them, police said.
Delhi Police's Crime Branch made the arrests and have claimed that the lynchpins of the Fake Indian Currency Note (FICN) racket have landed in their net. The seized notes were of Rs 1,000 denomination.
The accused have been identified as Harlal alias Hira Lal alias Hari lal ((51), Sudeep Shah alias Sandeep alias Sanjeet (23), Kanhaiya Lal (30), Paras Gupta (46), Parmeshwar Kumar alias Pavva (26), Raju Kumar Shah (24) and Toofani Shah (22) and Ashok Ram (28), all hailing from Bihar, and one Radha (35) from Jharkhand.

The FICN were brought to India via Bangladesh.
"We received a tip-off on Dec. 29 last year about Lal and three of his associates assembling at subway at Britannia Chowk in Shakurpur for a deal and laid a trap and arrested them," said Ravindra Yadav, Joint Commissioner of Police (Crime Branch). The rest of the associates were nabbed thereafter.
During the investigation, it was found that Shah, the leader of the racket, used to procure FICN at the rate of 35 per cent of its value from sources based in Malda in West Bengal and used to further supply the same to his Delhi-based associates Gupta and Harilal at the rate of 45 per cent of its face value.

Thereafter, the FICN were supplied at the rate of 50-55 per cent of the value to Shah, Lal, Ram, Pavva, Kumar and Radha for further circulation in the local markets of Delhi- NCR, Uttar Pradesh and Uttarakhand, said Yadav.