Mumbai: Man held with fake notes of Rs 28,850, cops intensify probe

A 37-year-old man was arrested by Mumbai City Crime Branch on Wednesday and fake Indian currency notes (FICN), worth Rs 28,850, were recovered from him. What’s worrying, police say, is that the counterfeits are now being produced in the lower denominations like Rs 200 and Rs 50.

The accused has been identified as Jayesh Khaire, a resident of MHB Colony in Borivali East. Responding to a lead that a man carrying fake notes would come to Charkop Market, officers of Kandivali Unit of Crime Branch reached the spot.

“On searching him, we found fake notes worth Rs 28,850. We also seized two mobile phones, a PAN Card and Aadhar Card from Khaire,” said a Crime Branch officer.

The police have found two notes of Rs 2,000 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.

“After prolonged questioning, Khaire confessed to his crime. This is a worrying sign as the counterfeiter used to pump in high denomination notes in the Indian markets, but now they have begun pumping in low denomination notes as well. We are probing the mastermind of the operation. Khaire’s mobile phones are being analysed,” said the officer.

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..