Fake currency racket unearthed, four held

Four persons were arrested on charge of printing and circulating counterfeit currency notes in Odisha's Bargarh district, police said here today.
Altogether 490 fake currency notes of Rs 100 denomination were seized from the four identified as Biswapati Sahoo, Pabitra Bag, Subha Tripathy and his brother Jyoti Tripathy, Bargarh sub-divisional police officer, Parul Gupta said.
On a tip off, police raided a place in Talapali village under Gaicilat police station and seized the fake notes with a face value of Rs 49,000 besides note making materials including desk-top computers, colour printers, scanners, instant photo maker, ribbon cartridges, bond papers and mobile phones from the spot, she said.

These articles were stolen from different police station areas in the district and cases were pending against them in Bargarh, Barpalli, Melchamunda, Gaicilet in the district and Jonk police station in neighbouring Nuapada district, the SDPO said.
Fake currency notes were in circulation in the district for quite some time and police was on the look out to unearth the racket, Gupta said, adding, the materials seized from the spot had the potential to print Rs 500 denomination notes as well.
"They were planning to prepare Rs 500 denomination fake currency notes as well and the materials required for the purpose were ready but nabbed before that", Gupta said.

The four were arrested yesterday under sections of IPC and forwarded to the court of sub-divisional judicial magistrate (SDJM) at Padampur.