The city police busted a counterfeit currency racket based at Velandipalayam in Coimbatore and seized ₹1.18 crore in fake currencies, in an overnight operation that started on Friday evening.
The police said the fake currencies were made using colour printer with minimal desktop printing facilities.
B. Ananth (31) of Marutha Konar Street was arrested in this connection.
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Investigations are on to find out Ananth’s accomplices, including two known persons involved in printing counterfeit currencies, and assessing the amount of bills circulated by the racket.
A routine vehicle check on Marutha Konar Street near Velandipalayam around 6.30 p.m. on Friday helped the police crack the racket.
The police team led by P. Mohanraj, Inspector (Crime) of Race Course police station, which was on additional duty in Saibaba Colony station on Friday, intercepted Ananth’s two-wheeler and found four fake notes of ₹ 2,000 denomination in his possession.
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During interrogation, Ananth confessed to the police that counterfeit currencies were being printed at a rented facility on Maruthappa Konar Street and were being circulated through his accomplices and friends in city. He was handed over to Saibaba Colony police.
G. Dharmarajan, Deputy Commissioner of Police (Headquarters), who was holding additional charge of DCP - Crime, formed a team comprising Assistant Commissioners of police (Crime) M. Somasundaram (South), Somasekhar (Central) and L. Senthilkumar, Inspector (Crime) of Saibaba Colony station, for investigation.
The police team raided the rented facility at around 6.30 a.m. on Saturday and seized 5,904 fake bills of ₹ 2,000 denomination along with colour printer, photocopy machine, hard disk, desktop computer, paper cutter, cell phone and bundles of A4 size paper.
“Ananth had served a six-month jail term for two-wheeler thefts in Coimbatore central prison in 2012 where he had befriended R. Sundar (38) of Karamadai and S. Kithar Mohammed (55) of Vadavalli. Sundar, who had involved in counterfeit currency cases, proposed the idea of printing fake currencies,” said a senior police officer. According to the police, more details such as the amount of counterfeit currencies circulated and involvement of more persons could be ascertained only after the arrest of Sundar and Mohammed.