Fake currency gang busted

Detectives picked up six suspected members of a forgery gang and seized fake currency notes worth Tk 1.2 crore in the capital's Mirpur on Monday.

The arrestees are Badsha Mia, the gang leader, Abdul Jalil, Jaynal Khandakar, Bayezid Bostami, Mohsin alias Wasim and Md Sohag.

Forgers become active ahead of Eid every year as a lot of money changes hands during the period for shopping. The Eid-ul-Azha is barely over three weeks away.

Speaking at a press conference at the DMP media centre, Joint Commissioner Monirul Islam of the Detective Branch of DMP said the six were held in different areas of Mirpur. All the forged notes were in denominations of Tk 1,000.

Cops also seized five laptops, a laminating machine, security thread and paper which were used for printing fake notes.

Law enforcers nabbed at least 15 counterfeit gangs ahead of the Eid-ul-Fitr around two months ago and seized over Tk 3 crore fake notes, according to media reports.

Monirul said at least 10 to 12 forgery gangs try to circulate fake currency notes in city markets, especially in cattle markets, ahead of the Eid.

Fake currency notes are produced and circulated in three phases. A group of forgers collects special papers while another does the printing. A third group circulates fake notes, detectives said quoting arrestees.

 According to DB officials, the production cost of fake notes worth Tk 1 lakh ranges between Tk 2,000 and Tk 3,300. Fraudsters sell the notes to wholesalers in different districts for Tk 4,000 to Tk 8,000.

The wholesalers then sell them to their agents for Tk 20,000 to Tk 25,000. The agents hand them over to retailers for Tk 40,000 to Tk 45,000. Retailers, in turn, circulate the notes while buying goods and transferring money.

A case was filed with Mirpur Police Station in this connection.