Fake currency racket busted in Delhi, one held

NEW DELHI - A fake currency racket that extended to Punjab has been busted with the arrest of a man in west Delhi, police said Friday.

Jagmohan, 42, was caught by police in Uttam Nagar Thursday night with fake currency with face value of about Rs.1 lakh and equipment for printing the fake notes was seized from his house.

“Currency worth Rs.101,100 was recovered from his house along with a scanner, ink dye, paper, printer and note cutter,” said a police official.

“The currency distribution happened in Punjab and we are in touch with Punjab Police for investigations,” the official added.

POlice are now on the trail of Jagmohan’s associates.

During interrogation, Jagmohan told police that he hails from Muzzaffarnagar, Uttar Pradesh. “He is a school dropout, migrated to Delhi in 1991 and did odd jobs to meet his expenses.”

“He took to crime and initially stole motorcycles. In 1999, he alongwith his associates shot at two businessmen and robbed them of their cash. One person died on the spot and the other was injured,” said the official.

Jagmohan was arrested in 2003. While in jail he came in contact with another inmate, to whom he claimed that he could print counterfeit currency using computer and other accessories, according to the police.

After his release in 2008, Jahmohan acquired all the equipment needed for counterfeiting currency and started printing it.

“The rate was one original currency with three counterfeits. Till date he has circulated over Rs.20 lakh worth of counterfeit currency,” the police official added.

Indo-Asian News Service