Police in Karachi have dismantled a counterfeit currency operation ahead of the Eid shopping season, arresting three suspects accused of distributing fake banknotes at heavily discounted prices.
According to SP Investigation Qais Khan, authorities launched an operation after receiving intelligence about a planned circulation of counterfeit currency in local markets. The suspects were intercepted before large quantities of fake cash could enter public circulation.
Investigators revealed that the accused were allegedly selling counterfeit Rs.5,000 notes for only Rs.1,000 each. In a separate planned transaction, the group was reportedly preparing to exchange fake currency worth Rs.100,000 for Rs.30,000 in genuine cash.
During the raid, police recovered counterfeit notes totaling Rs.200,000. Officials said the forged currency was produced using advanced techniques, making it difficult for ordinary citizens and shopkeepers to immediately detect the fraud.
The arrested individuals — Sajid Shahani, Saddam Jatoi, and Kamil Hamza — are accused of deceiving buyers by passing off fake notes as authentic currency, resulting in financial losses within local trading areas.
A case has been registered, and investigators are now expanding the probe to trace other members and possible financiers connected to the counterfeit currency network.
