Karachi police have busted a counterfeit currency network ahead of Eid and arrested three suspects allegedly involved in selling fake banknotes at heavily discounted rates in local markets.
According to SP Investigation Qais Khan, police acted on a tip-off and intercepted the suspects before the counterfeit currency could be circulated widely during the Eid shopping season.
Investigators said the suspects were selling fake Rs. 5,000 notes for just Rs. 1,000 each. In another planned deal, the group was allegedly preparing to hand over fake currency worth Rs. 100,000 in exchange for Rs. 30,000 in genuine cash.
Police recovered counterfeit currency worth Rs. 200,000 from the suspects during the operation. Officials said the forged Rs. 5,000 notes were produced with significant sophistication, making them difficult for ordinary citizens to identify.
The arrested suspects were identified as Sajid Shahani, Saddam Jatoi, and Kamil Hamza. Investigators said the accused had allegedly been deceiving people by presenting the fake notes as genuine currency, causing financial losses in local markets.
Police have registered a case against the suspects and launched further investigations to identify other individuals linked to the counterfeit currency network.
