Man held with counterfeit currency

November 5th, 2011 - 1:34 am ICT by IANS  

Moradabad (Uttar Pradesh), Nov 4 (IANS) A man linked to an inter-state fake currency racket was arrested in this Uttar Pradesh district along with fake Indian currency notes of face value of over Rs.2 lakh, police said Friday.

Naushad, 22, was nabbed late Thursday from Bhojpur town, while his three accomplices managed to escape.

“Naushad worked for a West-Bengal-based fake currency racket that circulates counterfeit currency in Uttarakhand, Madhya Pradesh, Bihar and Uttar Pradesh,” Police Inspector R.G. Sharma told reporters in Moradabad, some 350 km from Lucknow,

“As the notes seized from Naushad are of good quality, we cannot rule out the involvement of a foreign-based gang in manufacturing of the counterfeit notes,” he added.

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