Cottonpet Police busts gang circulating fake Indian currency notes of Rs.500 denomination worth Rs.6.5 Lakhs

Pramesh S Jain & Dr.Thomas (Special Correspondent)

The Cottonpet police on Friday busted an inter state fake currency racket and arrested three people red handed with 1307 fake currency note of 500 denominations worth Rs.6.5 lakh from them.

Among the three accused the prime accused Saravanan,34,from Karur in Tamilnadu and two of his associates identified as Devan Rajendran,20,and Nitin Shivan,19,from Thiruvanantapuram were caught red handed while exchanging the consignment near the skywalk at city railway station premises on Friday.

Senior officer told reporters A team led by cottonpet police inspector,Balaraj G,based on credible information raided the place and arrested the accused along with the fake currency notes.

Investigations revealed that the Saravanan used to source the fake currency consignment through his contact from Bihar.The accused would communicate with each other on instagram accounts .

The accused told the police that he would purchase one lakh worth fake currency for Rs.25,000 and circulate through his contacts at crowded places .

So far he had purchased Rs.10 lakh fake currency and circulated three to four lakh currency notes in Kerala, Andhra Pradesh and Karnataka,B.Dayananda, city police commissioner, said .

The accused have been booked under circulation of fake currency and taken into custody to ascertain their criminal background, he added .

Finally Bengaluru Police Commissioner,B Dayananda has appreciated Addl CP West,Satheesh Kumar,DCP West,Laxman B Nimbargi,ACP,KC Giri,PI,Balaraj G,and his whole team who were part of this inter-state fake currency racket a timely action by the team has been appreciated and a suitable reward will be given to whole team he added.