Jaipur, Oct 26 (PTI) A man was arrested with counterfeit currency notes having a face value of Rs 3.45 lakh in Jaipur ahead of Diwali, police said on Monday.
The accused, Shahbaz Khan, a resident of Housing Board Colony in Nahari Ka Naka, was arrested during a late-night operation by the Jaipur Police Commissionerate’s special team (CST) in the Bhatta Basti police station area.
Special Commissioner of Police (Operations) Omprakash said counterfeit notes in denominations of Rs 500 were recovered from the accused.
During preliminary questioning, Khan allegedly admitted to procuring the fake notes from an area near Jama Masjid in Old Delhi for circulation in Jaipur during the festive season.
Police said initial questioning also suggested that counterfeit notes worth Rs 3 lakh were being supplied in exchange for Rs 1 lakh in genuine currency.
The accused has been handed over to Bhatta Basti police for further investigation.
Police are probing the source of the counterfeit currency and the possible involvement of other members of the racket. PTI AG APL
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