Four caught in Navsari with scrapped notes of Rs3.5 crore face value

Surat: Sleuths of crime department stuck four persons after they were present in ownership of scrapped currency notes having face value of Rs3.5 crore at Undach village in Jalalpore taluka of Navsari district on Sunday.

Two accused are from Mumbai, one from Pardi in Valsad and one belongs to Jalalpore in Navsari.


Police said they found 42,300 notes of Rs500 denomination and 13, 432 notes of Rs1,000 denomination with Jitendra Panigrahi (Mumbai), Fair Motorwala (Navsari), Mahomad Mubin Shekhi (Mumbai) and Altaf Sheikh (Valsad).


Police said they were tipped off by means of an informer concerning the gang with demonetized notes. “We despatched data that we were ready to purchase scrapped notes having face value of Rs5 crore from them. We waited for the crowd participants who were coming in a car at Undach and seized the demonetized notes having facing value of Rs3,50,82,000 from them.”


The gang used to purchase demonetized currency observe at the rate of seven paise according to rupee and then promote it at 10 paise. The four accused might be produced in a court docket in Navsari shortly and their remand sought, police added.


Four caught in Navsari with scrapped notes of Rs3.5 crore face value Four caught in Navsari with scrapped notes of Rs3.5 crore face value Reviewed by kailash soni on February 12, 2019 Rating: 5
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