Rs 37K fake notes seized, youth held

Police seized a colour Xerox machine and Rs 7,200 original notes from accused K Prakash, 24, a resident of Chettipalayam here. According to police, Prakash exchanged a fake Rs 2,000 note at a shop near the Botanical Garden in Ooty on Friday. 

A little later, the woman at the shop found that the note was counterfeit and informed the Ooty Town police. Police inquiries revealed that the same person had exchanged fake currency in other shops as well. 

Meanwhile, during a vehicle a check in the town area, police intercepted a two-wheeler rider on suspicion who was identified as Prakash. Inquiries revealed that Prakash had exchanged fake currency in many shops near the Botanical Garden and boat house. He was brought to Chettipalayam, where he used a colour Xerox machine to photo copy the original notes. Police seized 14 notes of Rs 2,000 denomination, 18 notes of Rs 500 denomination, a colour Xerox machine and Rs 7,200 in cash. 

Inquiries revealed that Prakash, a college dropout, had met with a huge loss running a hotel and chit funds firm. Once he unknowingly got a fake currency note of Rs 2,000 at his hotel but managed to exchange it in another shop without raising any suspicion. He then hit upon the idea of printing and circulating fake currency to make a quick buck. 

He bought a Xerox machine for Rs 6,000 and a paper cutter and began to print fake notes using A4 size paper.