THIRUVANANTHAPURAM: The city shadow police have busted a fake currency racket that had allegedly duped quite a number of fishermen in the coastal areas of the Thiruvananthapuram.
The seven-member gang comprising Stephen, 62, of Peroorkada; Ravi, 55, of Chowara; Lakshmanan, 60, of Sivakasi, Tamil Nadu; John, 59, of Puliyarakonam; Mujeeb, 32, of Vallakadavu; Shafeeq, 24, of Beemapally and Mohammed Shafeeq, 39, of Manikyam Vilakom had circulated fake currency notes of `500 in the coastal areas in the district.
The cheating came to light when a small-scale trader who grew suspicious of the currency notes eventually informed the police. Tamil Nadu native Lakshamanan is supposedly the kingpin of the racket who brought the counterfeit currency notes into the district for widespread circulation. The police said if one could gives `1 lakh worth original currency notes, they could exchange `5 lakh fake currency notes.