DAWN.COM

Today's Paper | May 03, 2024

Published 14 Dec, 2004 12:00am

FAISALABAD: Rs20m already marketed: Counterfeit currency racket

FAISALABAD, Dec 13: Two men arrested in a counterfeit currency scam here on Sunday have already marketed Rs20 million during the last four years, it is learnt Accused Muhammad Ali and Muhammad Afzal reportedly told investigators , comprising a team of local police and personnel from a federal intelligence agency, that they had established a network in major cities to market fake notes.

"Over 90 per cent of the currency was distributed through dealers of new currency notes and those dealing in garlands of currency notes." Sources said the accused, with the backing of some influential people, were now planning to print US dollars and travellers' cheques.

Meanwhile, Muhammad Habib, the owner of the Habib Printing Press which was seized by the raiding team on Sunday is still at large. It may be noted here that a joint team of local police and a federal agency had arrested Ali and Afzal, recovered fake national and foreign currency, prize bonds, stamp papers, travellers' cheques and printing material from Taj Colony and Rehman Colony on Jhang Road. The printing press was seized in Gujjar Basti of Eidgah Road.

DEMO: Hundreds of employees of the Faisalabad Electric Supply Company (FESCO) took out a rally in protest against the privatization policy of the government here on Monday.

Read Comments

Pakistan's 'historic' lunar mission to be launched on Friday aboard China lunar probe Next Story