December 23: Police in Budgam have busted a fake currency racket and arrested 03 persons involved in the commission of crime. Besides counterfeit currency notes worth ₹45,000 & other tools were also recovered.
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 resident of Baliharan Singhpora Pattan Baramulla. During search, officers were able to recover printed counterfeit currency notes worth ₹45,000 from the vehicle. The accused person was arrested and investigation was set into motion.
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, 02 printers, one paper cutter, 02 reams of bond paper, 01 Mobile Phone & 10 number of bond papers with printed ₹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 Ab Ahad Ganaie resident of Kalsari Pattan and Abdul Hamid Ganaie son of Ghulam Rasool Ganaie resident of Burran Pattan and subsequently arrested. They were also shifted to Police Station where they remain in custody.
A case vide FIR No. 262/2021 stands registered at Police Station Magam and further investigation is in progress. More arrests and recoveries are expected in the instant case.
Police warns of strict action against those individuals found involved in any kind of criminal activity.