A year after demonetization in India, the fresh fake currency racket has been busted in Jammu & Kashmir.
Jammu & Kashmir police has arrested a Kashmiri youth from Jammu on Friday and seized fake currency notes worth Rs 6,37,550.
The racket has been busted in mountainous Reasi district of Jammu region. Senior Superintendent of Police (SSP), Tahir Bhat informed that the accused has been identified as 25-year-old Showkat Ahmed of Kulgam in South Kashmir.
The accused youth was staying in a rented accommodation in Sidhra area on the outskirts of Jammu city. The seized fake currency included 117 currency notes of Rs. 500 denomination, besides 278 and 19 currency notes in the denomination of Rs 200 and Rs 50 respectively.
The police also seized a desktop computer including a CPU, paper cutting machine, paper cutter and a bundle of fine quality paper.
The fake currency racket came to light, when a local labourer Bahar Din visited remotest Chasana police post complaining that he had been given fake currency notes worth Rs 6,000 by his contractor Mohd Maqbool.
Acting swiftly on the complaint, police arrested the contractor and during preliminary questioning, Mohd Maqbool said he received fake currency from Showkat Ahmed, a youth from Kulgam, who was living in Sidhra in Jammu city.
The police immediately sent a team to Jammu City and got the main accused Showkat from Jammu, arrested.
Senior Police officers said that the investigations are in progress to ascertain, whether the Kashmiri youth himself printing this fake currency or this is a big nexus or it is smuggled from foreign countries.