Fake notes with Rs 14 lakh face value seized in Maharashtra's Palghar

NEW DELHI: Police in Maharashtra's Palghar district arrested three men and seized counterfeit currency notes with a face value of Rs 14 lakh bearing 'Children Bank of India' markings on February 22.
The arrests came after police received information about individuals planning to exchange fake currency for genuine notes in Pali village.
Acting on a tip-off, the Wada police station team set up surveillance in the area where they first noticed a suspicious man carrying a bag. Two other individuals later arrived in a car to meet him.
The police team apprehended all three suspects and discovered fake currency notes in Rs 100 and Rs 500 denominations totaling Rs 14 lakh from the first suspect. They also found genuine currency worth Rs 1 lakh with the two individuals who arrived in the car.
The counterfeit notes were cleverly arranged with genuine currency bills placed at the top and bottom of the bundles, while fake notes with 'Children Bank of India' printed on them were hidden in between.
The three arrested individuals, aged 32, 36, and 56, all residents of Palghar, had planned to exchange fake notes worth Rs 3 lakh for genuine currency worth Rs 1 lakh.
Police have filed a case against the suspects under multiple sections of the Bharatiya Nyaya Sanhita, including charges for cheating, possession of counterfeit currency, and making documents resembling currency notes.
Wada police station inspector Dattatreya Kindre is leading an investigation to determine the source of the counterfeit currency.
The police noted that similar incidents had occurred previously in the area's Gorhe and Shirish Pada localities, where accused individuals had printed and circulated fake currency from their homes.
In this latest case, investigators found that the primary suspect had obtained the counterfeit notes from an external source and was attempting to circulate them by exchanging them for genuine currency.
The police are continuing their investigation to track down the origin of these fake currency notes and potential connections to larger counterfeiting operations.