COIMBATORE: The rural police booked four persons, including a DMK functionary, for allegedly running a scam with demonetised notes. The recovered demonetised currency notes of Rs 1,000 face value, bundles of newspapers cut to the size of the notes, a counting machine, a stapling machine, ink and an air gun, from the secret room of a bungalow in Jayalakshmi Nagar near Bommanampalayam on Saturday night.
The gang had been trying to sell demonetised notes but were actually stuffing the bundles with newspaper cut to the shape of the notes. Only the top note in every bundle was the original Rs 1,000 note. While 268 demonetised currency notes were seized, 667 bundles of cut newspapers were seized.
Vadavalli police registered a case on the house owner -- Anandan, a DMK functionary, the tenant -- Raseeth, and associates Farose and Sheq -- both from Kerala, under sections 420 (cheating), 489 (b) (using as genuine, forged or counterfeit currency notes or bank-notes), 120 (b) (criminal conspiracy), 109 (punishment of abetment if the act abetted is committed in consequence and where no express provision is made for its punishment) of the Indian Penal Code, and section 7 read with section 5 of the Specified Bank Notes (Cessation of Liabilities) Act, 2017.
According to police, Raseeth runs a firm by the name Royal Tech at the bungalow. It was in a secret room that they had stored all the materials. They had allegedly claimed that the demonetised currencies will be brought back when the government at the Centre changes. With this theory, they reportedly tried to sell the fake notes. It was a potential client who informed the Intelligence Bureau, the police said. While the raid at the house lasted till 4 am on Sunday morning, the four suspects are still absconding.
Secret room
According to police, Raseeth runs a firm by the name Royal Tech at the bungalow. It was in a secret room that they had stored all the materials