SOG busts fake currency racket in Punagam,arrest 3

The Special Operations Group of the city police unearthed a fake currency racket on Sunday and arrested three persons with counterfeit notes having face value of Rs 2 lakh.

The Special Operations Group (SOG) of the city police unearthed a fake currency racket on Sunday and arrested three persons with counterfeit notes having face value of Rs 2 lakh.

Acting on a tip-off,SOG officials raided flat number 402 of Khandeshwar Apartment at Sitanagar chokdi in Punagam and arrested Naresh Setha,Ashok Patel (both residents of Punagam) and Rajesh Kakadia,a resident of Akshardeep Society on Ved Road.

The police seized counterfeit notes of Rs 20,50,100,500 and 1,000 denominations as well as a scanner and a printer from the house. According to the police,the trio used to sell these notes at half of their value.

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The racket had been running for the last six months,said SOG officials,adding that it was being headed by Naresh. He was earlier working in a diamond polishing factory at Varachha and lost his job in the wake of financial slowdown.

SOG Inspector R G Desai said: We have come to know that certain gangs are involved in this illegal business. We are working on all the information that we have about those involved in this racket.

This was the second seizure made by the police within a week. Earlier,Crime Branch sleuths had arrested two persons from a house in Varachha with counterfeit notes having a face value of Rs 2 lakh.

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