Lucknow: Police in Lucknow have uncovered a fake currency racket operating in the city, arresting three men and recovering counterfeit Indian currency worth approximately ₹13.95 lakh.
The operation was carried out by the Madiaon Police after receiving specific intelligence about circulation of fake currency notes. The arrested accused, all residents of Azamgarh district, were allegedly involved in cheating people using counterfeit currency in organised transactions.
During the raid, police recovered a large consignment of fake notes, including 1,402 counterfeit notes of ₹500 denomination and 6,946 counterfeit notes of ₹100 denomination, along with a mobile phone. Officials confirmed that the total seized fake currency amounts to ₹13,95,600.
According to police sources, preliminary investigation suggests that the gang lured victims by offering higher-value exchanges and then handed over fake currency in return for genuine money. In several cases, the accused allegedly used counterfeit notes in place of real cash during financial dealings, causing significant monetary fraud.
Authorities suspect that the operation was being conducted in a coordinated and organised manner. During interrogation, the accused reportedly provided key leads, indicating the possible involvement of additional members linked to the racket. Police are now probing whether the network extends beyond Lucknow to other districts in Uttar Pradesh.
Investigators also revealed that one of the arrested individuals has a prior criminal record, raising concerns about links with habitual offenders and larger criminal networks engaged in similar activities.
The Madiaon Police have initiated legal proceedings against the arrested trio, and preparations are underway to send them to judicial custody. Further investigation is ongoing to identify the mastermind and dismantle the wider network behind the fake currency operation.
