VILLUPURAM: The Villupuram police have nabbed a four-member gang involved in printing and circulating fake currency.
During vehicle check at Vadaponparappi near here on Sunday, the police apprehended two motor-cycle borne youths carrying a bundle of currency notes. On perusal, 39 notes of Rs.100 denomination were found to be fake. Based on their confession, a special team nabbed K. Selvaraj of Vilanur in Pudukottai district, the mastermind, and R. Arjunan.
Selvaraj, former president of the Vilanur panchayat, has been in the business for years. He had teamed up with Arjunan in Bangalore and started circulating fake notes.
Selvaraj was caught by Karnataka Police in 2005. After his release in March 2009, he hired a house near Salem old bus stand and set up a printing unit. The police raided the unit on Monday and seized fake currency in the denominations of Rs.1,000, Rs.500 and Rs.100, amounting to Rs.3.59 lakh. While the two youths were sent to 15 days’ judicial custody on Monday, Selvaraj and Arjunan will be produced in court on Tuesday.