A counterfeit currency-note racket operated by a mathematics tuition master was busted by the CID on last night.

CID detectives also seized counterfeit 2,000-rupee notes the equivalent of some Rs.7 million hidden inside the Malabe hideout.

They said they believed that a large number of counterfeit 2,000 rupee notes bearing number: P 67799159 might already be in circulation.

The detectives are also investigating whether the suspect was acquainted to any employees of the Central Bank which has the sole authority to print currency notes.

They found that two papers were attached to each other with the security thread placed in a manner that was visible to any casual recipient.

The racket was busted after coming across reports that several counterfeit notes were circulating among the unsuspicious public.

Police said the tuition master’s associates were yet to be arrested and that the hideout had been used for this operation for about two years.

Police spokesman Ajith Rohana alerted the people to watch out for any Rs.2,000 currency notes that bore the No: P 67799159 and to inform the nearest police station if they came across any such notes.

Computers, printers, scanners, seals and papers used in the printing of the counterfeit notes were also seized by the CID.

In December 2011 the police arrested another tuition master who had been running a similar kind of operation for more than three years. (Supun Dias)(Pix by Shantha Rathnayake)