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Fake currency racket: Kingpin found dead in Nepal

October 09, 2009 12:08 IST

Majid Manihar's death in Nepal has dealt a body blow to the ongoing probe into the Inter Services Intelligence-sponsored fake Indian currency racket.

Manihar, who the police describe as the kingpin in the racket, was found dead in a hotel in Nepal two days ago with bullet wounds all over his body.

The interrogation of Sudhanshu Sudhakar, an ex-army man arrested in Patna and Ateeq Ansari and Rajesh Gupta arrested in Uttar Pradesh last month, revealed certain startling details regarding this racket.

The three of them had spoken in length about fake currency and its link with the ISI, Dawood Ibrahim gang and also the former crowned prince of Nepal, Paras.

Manihar was picked up from India and trained by the ISI two decades ago.

At least five years ago, he was sent into Nepal where he was asked to oversee the fake currency business along with Sudhakar. IB sources say though both Sudhakar and Manihar operated as first-level operators, the latter had a better bonding with the ISI. Manihar was the man who set up the supply route between Nepal and India and he took overall charge of the same.

IB sources told rediff.com that he was also directly in contact with Paras who was also involved in the racket.

Why did he die? Following the interrogation of Sudhakar and two others in India, it was evident that getting hold of Manihar would solve a huge problem for India. After collecting evidence against Manihar and his direct ISI link, Indian agencies were all set to seek his extradition from Nepal.

The ISI realized that India if India managed to get hold on Manihar, this would spell doom for their racket operating out of Nepal. The most important aspect in the fake currency racket is the route that is being used to pump in fake currency and this was an aspect that Manihar was well versed with.

Sources say that the ISI is known for such operations and even in the past they have killed people who are about to get arrested.

Another worry for the ISI was that the Uttar Pradesh police had managed to get a hold of Vicky Manihar, who happens to the son of Manihar. The cops managed to corroborate a lot of information from Vicky. Vicky revealed that fake currency was being printed in Lahore. He also gave details as to how it was transported from Pakistan into Nepal.

Vicky Nanjappa