Three persons, including a Bihar government school teacher, were arrested allegedly with fake currency with a face value of Rs 3.7 lakh, police said today.
The fake currency racket has been traced to Bettiah in Bihar's West Champaran and the arrested persons have been identified as Arjun Sharma (33), a graduate, Parma Shah (31) and Satinder Singh (30).
"Fake currency notes are being smuggled into the country through the porous Indo-Nepal and Indo-Bangladesh border," Ravindra Yadav, Additional Commissioner of Police (Crime), said.
Sharma and Shah were the first to be arrested on March 11 followed by Singh.
Sharma, who started a garage after his college and operated it till 2006, became Sarpanch of his village from 2006 to 2010.
In 2010, he was selected as a teacher on contract basis in Education Department under Bihar Government and presently he is teaching in a government school.
His associate Shah allegedly introduced him into the racket of supplying fake currency notes.
He came in contact with one Lal Babu, who is presently in Siliguri jail, and allegedly got introduced into the racket.
"The gang procured fake currency notes from one Nagina of Bettiah at the rate of Rs 52/53 for Rs 100 and used to further dispose it at the rate of Rs 60/65 for Rs 100. He further disclosed that Nagina brought the fake notes from Bangladesh at the rate of Rs 45/46," Yadav said.
