Money-doubling racket: two held

Vadodara : The police on Wednesday evening arrested two persons for allegedly being involved in a money-doubling racket and recovered from them a suitcase full with huge fake currency notes. The police said the two wanted to cheat some people of Rs 5 lakh by giving them fake currency notes of Rs 10 lakh.

Reader to the Police Commissioner, Y A Bhatia, had informed Sayajigunj police that a man carrying fake notes would arrive at the ST bus stand. Accordingly, a police team headed by ASI Mohan Trivedi kept a watch there.

In the evening, they found that a man was about to hand over a big suitcase to another and they immediately took them into custody. The man who was carrying the suitcase was identified as Kishore Kanji Kataria, a resident of Andheri East, Mumbai. The man who was about to receive the suitcase was identified as Ghanshyam Magan Patel, a resident of Padra. The suitcase seized from Kataria contained 20 bunches of currency notes. While there was one real note of Rs 100 denomination on the top of each bunch, the rest of the notes were fake. However, two of the bunches carried two real notes of Rs 100 denomination on the bottom also.

Thus there was found real notes worth Rs 2,200, said the police. They said that Kataria was trying to hand over the money to Patel after assuring him that the bag contained Rs 10 lakh in real currency notes.

Kataria, originally from Am reli, told police that he was just acting as a courier. ‘‘He told us that one Lalji Makwana from Rajkot had employed him for job against a payment of Rs 2,000. Also another man called ‘Khan’ from Botad, who runs the entire racket, is known to have given him the last minute directions about the dispatch,’’ said an investigating officer of Sayajigunj police.

Police said Patel, an assistant director in Gujarati films, had collected money to the tune of Rs 5 lakh from his home and relatives and put it into the money-doubling racket.

‘‘He himself also invested some amount and was supposed to receive the suitcase in that connection,’’ said Sayajigunj Inspector Vikram Rathod.

Police said they would come to know the details about Patel’s activities after they question him thoroughly. They said they might send police teams to Rajkot and Botad. A case of cheating and criminal conspiracy was registered with Sayajigunj police against the two.