Major fake currency racket busted in Odisha’s Sonepur; Rs 4 lakh counterfeit notes seized, 3 arrested

In a major crackdown on counterfeit currency, the Subarnapur police seized fake notes worth over Rs 4 lakh from the Binika area on Sunday. All the confiscated notes were in the Rs 500 denomination, indicating a significant attempt to circulate high-value counterfeit currency in the district.

Three individuals were arrested in connection with the case. They have been identified as Ashok Nayak and Abhisek Hota from Binika and Jayanarayan Bastia from the Rengali area.  The trio has been produced before the Court.

Three mobile phones, which are believed to have been used in coordinating the distribution of the fake currency, have also been seized.

The Sonepur Superintendent of Police (SP) confirmed that the accused had already released approximately Rs 2 lakh worth of counterfeit notes into the local market, raising concerns among traders and residents.

Preliminary investigations revealed that the accused had obtained duplicate currency worth Rs 6 lakh from Bargarh by paying Rs 1 lakh. They had spent around Rs 2 lakh, while the police recovered Rs 4,01,500 in fake currency from them. 

Sources indicated that the trio had been involved in the fake currency racket for the last one month, systematically distributing the counterfeit notes in the region.

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The police are now conducting a detailed probe to identify the source of the counterfeit currency, the areas where the notes were circulated, and the possible mastermind behind the racket. 

As part of the investigation, authorities are expected to visit Bargarh to gather further evidence and track the network responsible for producing and supplying the fake notes.