Fake currency seizure: Police custody of 11 accused extended

A local NCP leader, arrested here with 10 others last week with fake currency notes of face value of Rs 1.35 crore, is emerging as a 'prize catch' with the police seizing Rs 57.72 lakh from his bank accounts during investigation.
Chhabu Nagare, a former president of NCP's city unit youth wing, and 10 others were produced before a local court today which extended their police custody till January two.
Police had seized fake currencies in scrapped currency bills of Rs 1,000 and Rs 500 from high-end cars in Adgaon area of the city on December 23 and arrested 11 persons.

During the investigation, police seized the equipment Nagare allegedly used for printing the counterfeit notes.
"Police have already conducted searches at the residence of Nagare in Khutwad Nagar area and impounded a scanner, two printers, a cutting machine, various types of ink and papers which he used for printing fake currency to exchange those for new bills," Adgaon police station incharge S D Sanap said today.
He said police have traced Rs 57.72 lakh in as many as 11 bank accounts of Nagare and are investigating whether he has more accounts or lockers.

"Nagare has nine accounts with a cooperative bank and two accounts with a nationalised bank. The accounts are being sealed by the police," Sanap said.

According to sources, Nagare is close to an NCP heavyweight from the district.
Rest of the accused, currently in police custody, hailed from Pune, Mumbai, Navi Mumbai and Thane.
They have been booked under relevant sections of IPC.