Mumbai man held with fake currency notes worth Rs 28,850

The Mumbai City Crime Branch arrested a 37-year-old man with (FICN) fake Indian currency notes worth Rs 28,850. The police alerted that counterfeits are now being produced in lower denominations like Rs 200 and Rs 50.

The suspect has been identified as Jayesh Khaire, a resident of MHB Colony in Borivali East.  The man was caught after responding to a lead that a man carrying counterfeit notes would come to the Charkop Market after which the Crime Branch of Kandivali Unit reached the spot.

One of the Crime Branch officers said that after searching the person he found fake notes of the value of Rs 28,850 along with two mobile phones, a PAN card and Aadhar card. The police have found two notes of Rs 2000 denomination, 20 notes of Rs 500 denomination, 15 notes of Rs 200 denomination, two notes of Rs 100 denomination and 33 notes of Rs 50 denomination.

The investigating officer said that after prolonged questioning Khaire confessed to his crime. This is a worrying situation as counterfeiters earlier used to pump in high denomination notes in India markets but now, they have begun pumping low denomination notes as well. He also said that they are also analysing his mobile phones.

Meanwhile, the police have booked cases under Indian Penal code sections 489A (counterfeiting currency-notes or bank-notes), 489B (using as genuine, forged or counterfeit currency-notes or bank-notes) and 489C (possession of forged or counterfeit currency-notes or bank-notes) were registered at Charkop police station.

Source: DNA India