It’s Raining Fake Currency in Kasargod! 2 Men Arrested in Connection with Rs 6.96 crore in FC Notes

It’s Raining Fake Currency in Kasargod! 2 Men Arrested in Connection with Rs 6.96 crore in FC Notes

Kasargod: On 21 March 2024, the Kasargod police seized Rs 2,000 notes worth Rs 7 crore from a house at Ambalathara, Gurpur and took a Kasargod person into custody for questioning in this connection. The house is owned by Gulf employee K P Babu Raj who had let it out on rent to Panathur resident Abdul Razak. The Rs 2000 currency notes discovered were later found to be counterfeit. Police had been keeping a watch on the house for the last three days.

They conducted the raids on Wednesday and took into custody the currency notes stashed away in two rooms. The Rs 2,000 currency notes were found stuffed in thermocol boxes, cardboard boxes and sacks. There are suspicions that the counterfeit currency was printed in Karnataka and stored in the Kasargod house. Additionally, authorities are looking into whether the currency notes were printed overseas and an inquiry is underway to ascertain the involvement of a resident of Puttur in transporting the currency to the Kasargod house.

Now the Police have arrested two accused for possessing fake currency notes totalling Rs 6.96 crore living in that rented house in Ambalathara. The arrested individuals have been identified as Abdul Razak (49), a resident of Bekala Peria and Mavval Sulaiman (52). They were arrested at a private resort in Sulthan Bathery, Boloor, in Mangaluru after being traced through their mobile phone signals.

Both Abdul and Mavval were escorted to Kasargod on Saturday afternoon for further investigations. Abdul Razak was present at the house until the raid took place in the afternoon. Upon receiving information about the impending raid, he fled in a vehicle belonging to a local businessman. Investigation sleuths are further interrogating the two accused individuals as part of their ongoing investigations. The total value of the confiscated currency notes amounts to Rs 6.96 crore.

Despite initial reports indicating Rs 7.25 crore worth of Rs 2000 notes found in the house, machine verification confirmed their falsity. Authorities believe that the perpetrators aimed to circulate the counterfeit notes, deceiving the public into believing they were genuine. Surprisingly, though these notes are banned, the Reserve Bank of India (RBI) still accepts them.

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