The Bhopal Crime Branch has busted a gang of four involved in printing fake currency from a photo studio. Fake currency in the denomination of Rs 2000 and Rs 100 amounting to over Rs two lakh has been recovered from the accused along with a printer, a scanner, a computer and a paper cutting machine.
The four accused according to the crime branch have already circulated fake currency worth over Rs three lakh in Bhopal.
The four accused have been identified as Jitendra, Danish Ali, Wasim Sheikh and Faeem Querashi.
According to the police, Faeem Quareshi works as a cable operator and has several cases including those of the arms act registered against him.
Danish Ali works as a supervisor in a private construction company and has cases under sections 241 and 249 of the Indian Penal Code registered against him.
The remaining two accused do not have any criminal records.
The operation was carried out on a specific input from an informer who claimed that a man was exchanging fake currency for real in the Quazi camp area in Bhopal, reported the police.
A special team of crime branch officials nabbed the accused identified as Faeem and recovered 75 fake notes of Rs 2000 denomination from him. Faeem led the police to the remaining three accused from whom around Rs 60000 worth fake currency was recovered.
According to the police, Faeem is claiming that he got the idea of producing fake currency after the government announced demonetisation of Rs 500 and Rs 1000 notes last year.
The gang during the cash crunch post demonetisation, exchanged the fake currency for old Rs 1000 and Rs 500 notes in rural areas. The old notes were later exchanged in various banks by the gang, police claimed.