The Hindu : Karnataka / Bangalore News : State opposes bail for fake currency racket accused

Online edition of India's National Newspaper
Friday, Aug 17, 2007
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Karnataka

Karnataka - Bangalore

State opposes bail for fake currency racket accused

Staff Reporter

Ashok Monteiro accused of directly being involved in smuggling fake currency
The face value of the fakes seized has been estimated at Rs. 7 lakh

BANGALORE: The State Government on Thursday opposed a bail petition by a native of Mangalore saying that he is one of the main accused involved in the smuggling of fake Indian currency.

Making these submissions, State Public Prosecutor S. Dore Raju contended that Ashok Monteiro, who was nabbed by the law enforcement authorities, was directly involved in smuggling fake Indian currency from Dubai into India.

He submitted that Monteiro was part of a well-knit group of anti-social elements that was dumping fake currency notes in the market. An examination by the Reserve Bank of India (RBI) and other agencies of the seized currency revealed a high degree of sophistication by this group in transporting the fakes. The fake currencies are of such good quality it is difficult to detect them.

Mr. Dore Raju submitted that the DRI had seized the notes from Ashok Monteiro, a resident of Rajajinagar, when he was taking delivery of a parcel from a van belonging to a private transport company. The face value of the fakes seized then was estimated at Rs.7 lakh.

He said Monteiro had in all smuggled fake currency 24 times and its worth was estimated at over Rs. 3 crore. Investigations by the DRI have revealed that Monteiro was supposed to take delivery of the fakes at the airport but fled after another accused, Mohammad Haneef, was arrested.

The DRI suspected that the counterfeit currency was used to procure narcotics, arms and ammunition by elements operating from both within and outside the country. Fake currency notes, of Rs. 1,000, Rs. 500 and Rs. 100 denominations, seized from Ashok were hidden in tea and biscuit cartons.

Monteiro, a Mangalorean, was initially operating from his home town and only occasionally visited Bangalore. He left Mangalore when he realised he was a suspect.

The SPP said there is no reason to release Monteiro as he had been arrested under the provisions of COFEPOSA. All the provisions of the law were followed when Monteiro’s detention order was passed and which was subsequently confirmed by the Detention Board. He said the case was still being investigated and Monteiro’s detention was necessary.

A Division Bench comprising Justice K.L. Manjunath and Justice Jawad Rahim adjourned further hearing on the case.

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