Kasargod: With investigations underway into the counterfeit currency circulation racket in Kasargod, National Investigation Agency (NIA) Deputy Superintendent Abdul Kareem has visited Kanhangad to look into the progress of investigation.

The racket was busted when the Kanhangad Police in August arrested one Abdul Jabbar of Kaithakkad near Chervattur while he had made purchases worth Rs 1.8 lakh from a jewellery house in the town by using fake currency for payment. During interrogations, he admitted to have purchased furnitures and other household goods worth Rs 6 lakh using fake currency, from Kasargod and Kannur districts.

It was following revelations made by him that Abdul Nazeer, a businessman was arrested and counterfeit currency amounting to Rs 24 lakh seized from him. Nazeer, it was reported, had also burnt the counterfeit currency when he gathered hint of a police raid.

Police believe that the counterfeit currency racket masterminds are located outside the country.