Nashik-based man got fake currency from Coimbatore

While the officers were initially mulling to hand over the case to CB-CID for further investigation, he was remanded in judicial custody on Wednesday.

The accused, identified as Malayarasan, is native of Kayathar in Thoothukudi district and he has been running an eatery with family in Nashik in Maharashtra.

On a tip-off that a man from Maharashtra is camping in the city to exchange counterfeit notes, a special team led by Secretariat Colony police Inspector Rajeshwari raided New Lakshmi Lodge in Egmore. 

“A policeman entered room No 304 disguised as a customer. When he demanded Rs 5 lakh for counterfeit notes to the face value of Rs 10 lakh, other police personnel surrounded him. Two bags in his possession contained counterfeit currencies in Rs 2,000 and Rs 500 denominations,” the police said.

The police said that he picked up the cash from a man in Coimbatore and reached Chennai to exchange them for valid currencies.

While Malayarasan’s brother is said to be a CRPF personnel working in Avadi, Malayasrasan has been trading counterfeit notes with his brother-in-law in Nashik.