21-year-old held for circulating counterfeit ₹500 notes among vendors
Goshamahal police arrested 21-year-old Vikram for circulating 16 counterfeit ₹500 notes among petty vendors in Begum Bazar, exchanging them for goods and ₹400 in genuine currency. Police are now searching for his friend Ashok, who allegedly supplied the fake notes, and have advised vendors to exercise caution.
Why it matters
This incident highlights the ongoing problem of counterfeit currency impacting local economies and small businesses, prompting police to investigate a wider network and issue warnings to the public about vigilance during transactions.
A 21-year-old man was arrested by Goshamahal police for allegedly circulating counterfeit ₹500 notes among petty vendors in Begum Bazar by purchasing goods and collecting ₹400 in genuine currency as change for each fake note.
The accused, Vikram, a private employee and a native of Rajasthan, was found with 16 counterfeit ₹500 notes with a face value of ₹8,000, police said.
The case came to light around 9 p.m. on September 25 when an Assistant Sub-Inspector and a Head Constable, who were patrolling near Begum Bazar Chatri, noticed Vikram and intercepted him on suspicion.
During questioning, he allegedly told police that he had been passing the counterfeit notes to petty vendors and receiving ₹400 in genuine currency as change against each ₹500 note.
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