Srinagar, Dec 23 (KNS): The Jammu and Kashmir on Thursday claimed to have busted a fake currency racket by arresting three persons and recovered Rs 45, 000 and other tools from their possession.

According to a statement, issued to Kashmir News Service (KNS), Police have busted a fake currency racket and arrested 03 persons involved in the commission of crime, besides, counterfeit currency notes worth ?45,000 & other tools were also recovered.

It reads that a police party from Police post Narbal at a checkpoint intercepted one vehicle bearing registration number JK01AB-9599 driven by Taufeeq Hussain Khawaja son of Mohammad Akbar Khawaja of Pattan and during search, officers were able to recover printed counterfeit currency notes worth ?45,000 from the vehicle. 

It reads that the accused person was arrested and investigation was set into motion.

“During the course of investigation and on his confession about his involvement in printing fake currency notes at his house at Baliharan Singhpora, a raid was carried out at his house. During search, 02 printers, one paper cutter, 02 reams of bond paper, 01 Mobile Phone & 10 number of bond papers with printed ?100/ fake currency notes were recovered and seized.” 

It reads that during questioning, the accused person also revealed involvement of his two associates who were circulating the fake currency notes in the market. 

They have been identified as Farooq Ahmad Ganaie son of Ab Ahad Ganaie and Abdul Hamid Ganaie son of Ghulam Rasool Ganaie—both residents of Pattan. 

It reads that a case vide FIR No. 262/2021 stands registered at Police Station Magam and further investigation is in progress. 

It further reads that more arrests and recoveries are expected in the instant case. (KNS)