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Karnataka police arrest four Goans for fake currency racket in Karwar

The raid was conducted following a rise in fake currency notes in the district.

FPJ Web Desk | Updated on: Saturday, May 07, 2022, 12:50 PM IST

Representative Image | ANI
Representative Image | ANI
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Four persons from Goa were arrested as Karnataka police busted an inter-state fake currency racket near Karwar.

The accused have been identified as Praveen Nair (46), Lloyd Lawrence Stewis (Esteves) (29), Larson Louis Silva (26) and Pranoy Fernandes. The prime accused in the racket, who is a resident of Kodibag in Karwar, is absconding, police added.

The raid was conducted following a rise in fake currency notes in the district.

Under directions of Uttara Kannada Superintendent of Police Dr Suman Pennekar, a special police squad conducted a raid based on a tip-off that demonetised currency was being exchanged on May 5 at around 7 pm in front of a Hotel in Kodibag-Karwar.

After getting information, Ankola PSI Pemangowda Patil and team arrested the culprits and during the raid, 26 fake currency notes of Rs 500 in denomination, 40 genuine currency notes of Rs 500 in denomination, and a scooty and a car were seized during the raid.

Additional SP Badrinath S, DySP Valentine D’Souza and Ankola PI Santosh Shetty played a major role in busting the racket. SP Dr Pennekar has congratulated the team for the busting the inter-state fake currency racket. A case has been registered at Ankola Police Station.

Police suspect that there are deeper roots to the racket and are looking out for the place where the currency notes were printed.

According to media reports, fake currency notes have been an issue in Ankola and authorities have been suspecting that a gang has been circulating counterfeit currencies among unsuspecting people.

(This news is reported by The Goan. To read more GOA news visit The Goan)

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Published on: Saturday, May 07, 2022, 12:50 PM IST