Pak-Backed Fake Currency Racket Busted

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[size=4][color=#000000][font=Arial][left]HYDERABAD: In a major breakthrough, the National Investigation Agency (NIA) officials, with the help of Border Security Force, nabbed Morgen Hossain, said to be the kingpin of a major fake Indian currency racket, in West Bengal. Following his interrogation, the [url="http://timesofindia.indiatimes.com/topic/NIA"]NIA[/url] arrested 10 gang members of the racket, including four hailing from Hyderabad.

The officials of NIA, Hyderabad, identified the 10 arrested persons as Sajib-Ul-Haq, Anwar, Jamal Sheik and Akram (all from Hyderabad), Habibul Rehaman, Abdul Mutalik and Prashant Mondal (from Chennai), Morjen and Manik Sheik (from Malda in West Bengal) and Bahadur Yadav (from Delhi). Kingpin Hossain hails from Malda.

NIA officials in a press release said that fake [url="http://timesofindia.indiatimes.com/topic/Indian-currency-notes"]Indian currency notes[/url] (FICN) worth Rs 27,000 was recovered from the accused. "Based on the information given by Morgen Hossain, the other accused were arrested after raids were conducted in Chennai, Malda and Hyderabad,'' officials said.

During the interrogation of the accused, the investigating agency came to know that the source of fake currency was Pakistan and from there it was sent to Bangladesh via air before it was moved into India through the Indo-Bangla border villages. The accused, Morgen Hossain, with his aides would collect the currency and distribute it to the agents spread all over the country. But according to NIA, the conspiracy is much bigger as Pakistan is earning money by organising this activity.

"They transport FICN through rail route to all the states. Unemployed youth from Malda are lured and sent to various states as construction labourers to distribute high quality FICN. The local agents collect 60% of the genuine notes earned in return for every fake currency exchanged. Out of this, as per the deal, the genuine currency is then remitted into the bank accounts of the kingpin, who in turn returns some percentage of genuine currency to Bangladesh and Pak suppliers," officials added.[/left][/font][/color][/size][/size][/font][/color]

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