STF, Ujjain, has nabbed three men involved in producing and circulating fake currency notes and seized fake currency notes of Rs 3.5 lakh in the denomination of Rs 500 on Tuesday.

In the initial investigation, the accused revealed that the fake currency notes were used in small number to evade suspicion and they have also used these in gambling and betting.

The nabbed accused persons were identified as Ravi Malve (40) of Khargone, Shakir Ali (28) and Adil Shafi (32) of Barwani.

Ravi was the first accused who was nabbed while trying to take goods from the market using fake currency and when he was quizzed he confessed that Shakir and Adil provides 10 percent for circulation of fake currency notes in the market.

Based on the information Shakir and Adil were nabbed. From Ravi’s possession police recovered fake currency notes of Rs  50,000 and Rs 15,000 each from Shakir and Adil.

Most of the seized fake currency notes were of different serial numbers while few were with same serial numbers. 

Ravi works as assistant clerk with a cooperative society. He had circulated fake currency notes in Indore Sarafa market and local Khargone market.

Shakir works as a contractor and had used the fake currency notes in making payment of the labourer and other business activities. He had been booked for assault and illegal possession of arms. 

The third accused Adil used to work as painter of trucks.

He had used fake currency notes to make payments of small traders of the region for purchasing raw material. During the investigation accused confessed that they have used fake currency notes in gambling and betting.