In a major bust of fake financial instruments of foreign countries, the CBI on Wednesday recovered fake American cheques having a face value of Rs 1.25 crore from Dwarka area and arrested one person for allegedly being involved in the racket.
A team of CBI sleuths conducted searches at the home of Hemant Reddy in Dwarka in South-West Delhi area this morning where fake cheques having face value of Rs. 1.25 crore were seized, official sources said, adding Reddy was arrested by the team.
The team also recovered sheets of cheques having a face value of worth 21 million US dollars (approximately Rs 97.5 crore) which were yet to be printed, they said.
This comes close on the heels of arrest of three Nigerains for printing and circulating multi-million dollar counterfeit MoneyGram money orders used in the United States.
During the last six months, counterfeit MoneyGram money orders having face value of $ 36,78,125 (equivalent to Rs 17,65,50,000) were intercepted by the US authorities in the US, raising an alarm.
The US authorities had sought help of CBI, which apprehended one of the accused on January 30, while attempting to send a consignment of 158 counterfeit MoneyGram money orders, each of $ 970 having a total face value of $ 1,53,260 (approx Rs 73,56,480), a senior CBI official said.