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Police in Maharashtra's Nagpur have busted a counterfeit currency note racket with the recovery of fake notes of Rs 48,000 face value, and arrested three persons, including two from neighbouring Madhya Pradesh, an official said on Sunday.
The first arrest was made at Kalmeshwar near Nagpur city on August 10, following which two others were arrested from Madhya Pradesh, he said.
'One Pravin Patel, a 21-year-old man hailing from Sidhi district in MP, was nabbed from Gondkhairi near Nagpur after he was found carrying fake notes of Rs 100 denomination of Rs 48,700 face value,' the official of Nagpur Rural police said.
During Patel's interrogation, he revealed the names of two others, the police said.
'Accordingly, Dhiraj Dinesh Tiwari (28), from Satna district in MP, and Akash Annapurnaprasad Pandey (21) from Sidhi district in the same state, were apprehended,' he said.
During the probe, police found that Pandey, who holds a diploma in computers, had lost Rs 1.5 lakh in online gambling. He met Tiwari and together they hatched a conspiracy to print fake notes using Pandey's computer skills, the police said.
Pandey was promised a 30 per cent commission for the task. They started printing and circulating counterfeit notes, they said.
'The accused used to distribute the counterfeit notes in Nagpur,' the police official said, adding that further investigation is on.