Two held for counterfeit currency fraud

Lokmat News Network

Chhatrapati Sambhajinagar

Begumpura police arrested two men on Friday in Pahadsingpura for allegedly attempting to cheat citizens by promising to supply counterfeit currency.

The accused Shaikh Feroz (31) and Sheikh Wasim (29), both from Biloli in Nanded were detained from an Innova car (TS 07 JW 0666) following a tip-off. A team led by police sub inspector Maroti Madevad laid a trap around 2.30 pm at New Pahadsingpura and intercepted the vehicle. Police seized bundles of white paper cut to the size of Rs 500 notes, a plywood box designed to resemble a currency-printing machine fitted with buttons, plugs, lights and a voltage meter, iodine solution, electric wires and white powder, collectively valued at Rs 1,150.

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How they gained victims’ trust

The duo allegedly blackened genuine Rs 500 notes using iodine and then “cleaned” them with sulphuric powder through the fake machine to regain the original appearance, thereby gaining victims’ trust. They later promised Rs 4 lakh in fake notes in exchange for Rs 1 lakh and would hand over paper bundles before fleeing. In a related development, Malegaon police arrested Santosh Kelskar in a counterfeit case on February 8. Last year, a fake currency racket operating from a bungalow in Waluj was also busted.