Fake currency racket busted in Thane; two held

With the arrest of two persons from Sahebganj in Jharkhand, the Anti-Extortion Cell (AEC) of Thane police today claimed to have burst a major fake currency circulation racket here, seizing counterfeit notes worth Rs 3.75 lakhs from them.
According to Senior Police Inspector N T Kadam of AEC, Thane Police, they laid a trap to arrest the two accused, after cops were tipped-off that some persons were to exchange fake currency notes worth Rs 1,00,000 for Rs 30,000.
Police were also informed that these persons, carrying fake notes worth Rs 5 lakhs, were to come to Thane city and would exchange them near Kalwa bridge.

Subsequently the duo -- Abdul Hamid Abdul Jappar Shaikh (32) and Sahid Shamsul Momin (24) -- was arrested from Thane railway station and counterfeit notes worth Rs 3.75 lakhs of Rs 1,000 denomination, were recovered from them.
The arrested accused have been charged under sections 489 (b)(c) rw 34 of the IPC and offences have been registered with Thane Nagar police station.
The duo was produced before a local magistrate court which remanded them in police custody till September 16, police added.