7 Quintals Of Coins Seized


Staff member

Ludhiana April 30:
This could well explain the shortage of coins in the region. The police has taken lid off what could be a nationwide chain of gangsters, who were moulding huge quantity of coins to extract silver, lead and gilt from the coins and sell the separated elements on three-time profit.
The police today announced that it had succeeded in busting the gang with the arrest of a man, who was transporting a whopping 7 quintals of coins in 28 gunny bags to a contact in Delhi, who separated the elements. The gang earned quick profit but were crippling the Indian currency. Coins of all denominations were found in the bags.
The police said the gang gained huge profit. For instance, If Rs 500 worth coins were moulded, the elements taken out were sold for Rs 1500. providing a profit of Rs 1,000. He said about 25-year-old Jatinder Kumar of Bahadurgarh, Haryana, was nabbed with the gunny bags full of coins in Scorpio car he was driving near Do Moria Bridge last afternoon.
On persistent questioning on the huge quantity of coins he was carrying, the accused revealed the modus operandi of the gang. He revealed he had taken the booty from an autorickshaw driver in the city. He disclosed his job was to hand over the coins to a man named Rajesh Kumar in Sirsa. He insisted he only knew Rajesh in the long chain and could recognise the autorickshaw driver, who had given him the booty.
The police claimed Jatinder earned Rs 6,000 per trip. He has claimed to the police that this was his second round only. Police officials said they were skeptical of his claims and it seems he himself collected the coins from various places and handed over to the contact in Delhi. The police is trying to ascertain his previous criminal record, if any. He has been booked under Sections 420, 247, 249 of the IPC for cheating and tampering with the Indian currency.