Indian national arrested in fake currency racket

Metropolitan Police Crime Division (MPC) on Monday said they have arrested an Indian national and his Nepali accomplice on charges of their involvement in a counterfeit currency racket.

MPCD said the arrested have been identified as Indian national Hitendra Shyam Gjhairaia, 30, who ran the racket posing as a hardware businessman in Kathmandu, and his local accomplice Rajesh Shakya, 34, a resident of Bhaktapur district. They were made public the same day. Police said they also confiscated 180 counterfeit notes of denomination 100 Indian currency from their possession.

The police's initial investigation revealed that Ghairaia used to receive the fake banknotes from another Indian national Surendra Singh and then handover to Shakya, who later distributed the same currency to Indian national Bharat Bhusan and others.

With the arrest, police claimed they have achieved a major success in busting the fake currency racket believed to have links with internationally organized crime network operating from Pakistan, Dubai and other Gulf countries. nepalnews.com ag July 01 08