Three held for printing and selling fake currency

Three men were arrested for printing, selling and circulating fake Rs 100 notes in Maharashtra's Aurangabad city, the police said on Friday.

While two of the accused were arrested when they were exchanging notes at a market, the third one was nabbed during a raid at Nehru Nagar in the city late on Thursday night, an official said.

Syed Saif Syed Asad (24) and Syed Saleem Syed Yaar Mohammed (22) were caught by the police while the former was selling fake notes to the latter in Vidyanagar area, he said.

The accused would sell fake Rs 100 notes worth Rs 10,000 at half the price, and this counterfeit currency would then be circulated in the market during day-to-day transactions.

On questioning the duo, the police found that the accused had circulated fake currency worth Rs 50,000 in the nearby markets, and these notes were being printed by Shaikh Samran (27) at Nehru Nagar, the official said.

A police team conducted a raid at Nehru Nagar where they seized materials worth Rs 86,200, and arrested Samran.

"A case has been registered against the trio under sections 489(A,B,C and D) (counterfeiting currency-notes), 420 (cheating) and 34 (common intention) at Pundalik Nagar Police station," assistant police inspector Ghanshyam Sonavane said.