Counterfeit currency racket unveiled in Kasargod

Mangaluru: Authorities have uncovered a counterfeit currency racket at Kasargod in Kerala near Mangaluru, with all Rs. 2000 notes seized from a rented house in Gurupura of Ambalathara Parapalli. The notes which turned out to be fake, totals a staggering Rs. 6.96 crore.

Initial estimations had placed the value of the confiscated notes at Rs. 7.25 crore, but subsequent machine verifications confirmed their counterfeit nature. Investigators suspect that the culprits intended to circulate these fake notes, exploiting public trust in the currency. Despite being pulled out of circulation, the 2,000 Rupee notes could still be accepted by the Reserve Bank of India (RBI).

Sources suggest that the fake currency might have been printed in Karnataka and stored in the Kasargod residence. However, no arrests have been made yet, as the investigation remains ongoing. Two individuals allegedly linked to the operation are currently on the run, with their mobile phones switched off. Law enforcement agencies are intensifying their efforts to apprehend them.

Moreover, authorities are exploring the possibility that the counterfeit notes were printed overseas. An inquiry is also underway to determine the involvement of a Puttur resident in transporting the fake currency to the Kasargod location, adding layers to the intricate web of this illicit operation.