Man held for circulation of fake notes

The Basavanagudi police recently arrested a 36-year-old man when he was trying to circulate counterfeit notes.

According to police, the accused has been identified as Shaukat Ahmed, a native of Srinagar in Jammu and Kashmir. They have recovered 200 counterfeit notes of Rs 1,000 denomination and 200 counterfeit notes of Rs 500 denomination.

On a tip-off, the policemen in plainclothes picked up Ahmed from Krishna Rao Park when he was trying to circulate the counterfeit notes at nearby shops. He used to visit shops and ask them for change. The shopkeepers, without realising that the notes are fake, would tender him the change amount, the police said.

Ahmed is currently in police custody. “We are interrogating him to find if there is a gang behind the racket. He has revealed that the counterfeit notes are being printed in Bangladesh and smuggled through the border with the help of middlemen. He had come down to the City about four days ago and was staying in a lodge. A couple of years ago, he was arrested by the Punjab police when he was found circulating counterfeit notes. He came out on bail and resumed the racket,” the police said.