Man gets jail for selling equipment to make counterfeit coins

A Delhi court has awarded three-year prison term to a man, who was charged with selling equipment used for making fake coins of Rs 5 denomination.

Additional sessions judge VK Goel also imposed a fine of Rs 25,000 on Kailash Chand Jain after he was held guilty of selling master dye for minting fake currency coins.

"Considering the gravity of nature of offence, sentence of three years of imprisonment is imposed upon Jain with a fine of Rs 25,000," the court held.

The accused, 63, was apprehended by the police when he sold the instruments to one decoy customer in 2000 from Rohini here.

The court said the accused was found guilty "beyond all reasonable doubts" while rejecting his contention that the witnesses were trying to implicate him.

"All the witnesses have corroborated each other and are trustworthy. They have no reason to depose falsely against the accused in any manner. The depositions of these witnesses inspire confidence," the court said.
  
It said that Jain entered into a criminal conspiracy to do "an illegal act by illegal means". He was found possessing dyes, machines, tools, round metallic pieces, which could be used to counterfeit Indian coins of the denomination of Rs 2 and Rs 5 as stated by the witnesses.

Jain had contested the charges saying that he was not involved in making counterfeit coins and the witnesses deposed against him were not reliable.