Crime branch traces counterfeit currency racket to Bangladesh

Crime branch investigation into the recent fake currency racket has traced back the source to Bangladesh and has also established a link in West Bengal. The investigators have also claimed that these fake currency notes are being smuggled into Pune from West Bengal and it is suspected that the same are being pumped into West Bengal through Bangladesh.

A senior police officer, on condition of anonymity, told DNA,  “Good quality fake currency is mostly printed by enemy nations and smuggled into the country. The state anti-terrorism squad (ATS) had arrested an alleged  operative of the Indian Mujahideen (IM) and recovered fake currency from his possession which was being used to raise funds for terror activities in the country.”

The Wanavdi police had arrested one Vasant Jagannath Jagtap (45) last week and seized 482 fake currency notes from his possession. While interrogating Jagtap, the police came to know that he had procured the fake notes from a man who had brought them from Bangladesh.

As per the new government resolution (GR), the Wanavdi police handed over the case to the crime branch for further investigations to trace the other suspects behind this racket in the city.

Speaking to DNA, senior police inspector Bapu Kutwal said, “In our interrogation, we got vital information and sent a team to Kolkata. We are hoping to get more leads in this case, so that we can bust the racket and arrest the racketeers.”

According to the police records, over 30 people were arrested from West Bengal for running the fake Indian currency racket in India. The other arrested suspects are from Jharkhand, Bihar, Rajasthan, Pune and Mumbai.

The police have recovered over 600 notes of notional denomination Rs500 from the suspects in the city.

Police sources said that the counterfeit currency notes, which were difficult to identify without a machine, had flooded the city in a big way and had become a cause for concern. It has been affecting local traders, shopkeepers and banks are the worst hit.

Speaking to DNA, deputy commissioner of police (cyber and economics offence wing), Sanjay Shinde, said, “We have circulated instructions given by the Reserve Bank of India (RBI) at different police stations in order to raise awareness among people.”

A senior police inspector with the Pune crime branch said, “Most of the racketeers use hawala, illegal gambling and matka dens to circulate fake notes as they are not deposited in banks and as a result it is easy to flood the city with counterfeit notes.”