Police busts fake currency circulation racket in Shopian, three held
Srinagar: Police in Shopian busted a fake currency circulation racket and recovered fake notes worth ₹79,000/- leading to the arrest of three accused persons, a police spokesman said Friday.
He said that police received a complaint from a local shopkeeper stating therein that an individual has used fake currency notes while purchasing goods from his shop. Accordingly, a Case FIR No. 33/2026 under relevant sections of law was registered at Police Station Shopian and investigation was taken up.
Acting promptly on the complaint, the police initiated an investigation into the matter. During the course of investigation, police recovered fake currency notes amounting to ₹79,000/- from the possession of the accused persons and their associate, identified as Mohammad Syed Wani son of Ghulam Mohiuddin Wani resident of Batpora Shopian, Mohammad Maqbool Naikoo son of Habibullah Naikoo resident of Bungam Shopian and Peerzada Altaf son of Peerzada Ghulam Mohammad resident of Tukroo Babnad (BDO Zainapora), the spokesman added.
All the accused persons have been formally arrested and further investigation is underway to trace the source of the fake currency and identify other persons involved in the circulation network, he added.
