Indian counterfeit currency racket busted, four held

DUBAI/TRIVANDRUM - Criminal gangs with international links are circulating fake Indian currencies, Khaleej Times has learnt.

By Amira Agarib And Tk Devasia

Published: Tue 19 Aug 2008, 1:26 AM

Last updated: Sun 5 Apr 2015, 5:06 PM

Police in Dubai and in India have started to crack down on the criminals to curb the racket that poses security and economical threat to both India and the UAE.

In a latest such crackdown in Dubai, a four-member gang was arrested on August 5 by Dubai Police and fake currency of Indian Rupees (Rs) 2million was recovered from them.

According to sources in the Dubai Police, the General Department of Criminal Investigation of Dubai Police had received a tip-off that an Asian gang possessing fake Indian currency was searching for brokers to distribute it in the UAE.

The police source said they set up a trap to track the gang and an undercover police officer posing as an agent managed to meet one of the gang members.

"He managed to convince the gang member that he had a buyer for the fake currency. As he instructed, the gang member produced fake currency of Rs1,500. The currency was forged using advanced technologies," said the police source.

Later, the undercover police officer struck a deal with the gang member to buy Rs1million fake currency for Dh60,000.

Police sources said the gang member, Raj Babankilla, came with the fake currency and the police arrested him red-handed, seizing fake currency of Rs1.1million from him.

Soon, the police tracked his fellow gang members to Al Muteena area and arrested them. They were identified as Jaya Chandran, Iranian national Hussain Ali Habib and Pakistani national Jol Khan. Police seized Rs900,000 in fake currency, which was hidden in a car of the gang member.

During their police interrogation, the gang members confessed to having brought the counterfeit Indian currency from an Asian country.

The four have been referred to the Dubai Public Prosecution.

Meanwhile, two more persons were Sunday arrested in connection with the seizure of counterfeit Indian currency notes of Rs7.3million by the Directorate of Intelligence from a passenger at the international airport in Karipur in Calicut in India on Saturday.

With this the total number of people arrested in connection with the fake currency racket has gone up to six.

More news from