Peshawar police arrest members of fake currency racket

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Peshawar police on Friday recovered around Rs15 million in fake currency after uncovering a counterfeit currency note printing and distribution racket.

On Wednesday, police arrested four suspects in connection with possessing fake currency notes. The suspects were trying to smuggle the fake currency to Punjab, Capital City Police Officer (CCPO) Tahir Khan had told reporters.

Acting on the information extracted from the nabbed suspects, police raided different houses in the city’s Bhana Mari, Gulberg and Hayatabad areas. During the raids, police recovered different counterfeit currency making machines, around 22,000 blank papers, 100 currency stickers, six colour printers, computers and toners.

The seized fake currency and prize bonds were estimated to be around Rs15 million, which also included counterfeit United Arab Emirates (UAE) dirhams. The CCPO said that the value of the total recoveries made during the raid amounted to Rs500 million.

Further investigations revealed that the fake currency was not only being supplied to different districts of Khyber Pakhtunkhwa (KP) but also to the Federally Administered Tribal Areas (FATA) and other provinces, the CCPO added. He further said that the suspects had sold Rs100,000 in fake currency for an amount of Rs25,000-30,000.

Senior Superintendent of Police Investigation Nisar Khan said that police was investigating whether the fake currency was used for terrorist activities in the country. The main culprits would be arrested soon, he added.