Fake currency racket busted, three accused held in Budgam: Police

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Srinagar, Dec 23: Jammu and Kashmir Police in Budgam on Thursday claimed to have busted a fake currency racket and arrested 03 persons involved in the commission of crime. Besides, counterfeit currency notes worth Rs 45,000 and other tools were also recovered, police said.

A police spokesman in a statement issued to the news agency said that a police party from Police post Narbal at a checkpoint established at Narbal, intercepted one vehicle bearing registration number JK01AB-9599 driven by Taufeeq Hussain Khawaja, son of Mohammad Akbar Khawaja of Baliharan Singhpora Pattan Baramulla.

During search, officers were able to recover printed counterfeit currency notes worth Rs 45,000 from the vehicle. The accused person was arrested and investigation was set into motion, police said.

“During the course of investigation and on his confession about his involvement in printing fake currency notes at his house at Baliharan Singhpora Baramulla, a raid was carried out at his house. During search, two printers, one paper cutter, two reams of bond paper, one Mobile Phone and ten bond papers with printed Rs 100 fake currency notes were recovered and seized.”

“During questioning, the accused person also revealed involvement of his two associates who were circulating the fake currency notes in the market. They have been identified as Farooq Ahmad Ganaie, son of Abdul Ahad Ganaie of Kalsari Pattan and Abdul Hamid Ganaie, son of Ghulam Rasool Ganaie of Burran Pattan and subsequently arrested. They were also shifted to Police Station where they remain in custody.”

Police said that a case under FIR number 262/2021 stands registered at Police Station Magam and further investigation is in progress. “More arrests and recoveries are expected in the instant case.”

Meanwhile, police warned of strict action against those individuals found involved in any kind of criminal activity