Rs 45 lakh seized in fake currency

via Pioneer News Service | Kalpetta published on May 4, 2008

Within 24 hours of the seizure of Pakistan-printed counterfeit Indian currency of Rs 20 lakh at the Kochi international airport by the Directorate of Revenue Intelligence, police seized unaccounted Rs 45 lakh (tube money) from an inter-state bus at Kalpetta.

A police team, led by DSP Gopi, Kalpetta, seized the money from a Bangalore-Kozhikode private bus. One person, identified as Nasreen of Rajasthan was arrested in connection with the seizure. This was the fifth huge haul of unaccounted money in the past six months. The money was found concealed under a seat of the bus.

Sources said that there could be a team working from Kozhikode district for smuggling from outside. They said the network was based at Koduvally in Kozhikode district. Though there had been many hauls in the past and arrests had been made, the police had not been able to nab the chief culprit. DySP Gopi said.

Intelligence officials said that the money-tubing had grown in alarming levels. Though the police had taken several measures to check the practice, they had been able to control this only on a minimum level, they said. They also said that better intelligence system could produce more result as it was practically impossible to inspect every vehicle. It is reported that the tube-money has a big role in inflation of land prices in Kerala. Intelligence officials also are of the view that it was being used to precipitate trouble in the State.

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