Police at Dwangwa in Nkhotakota have arrested 23-year-old Yesaya Qoto for being found in possession of fake K5000 banknotes amounting to K575,000.
Qoto was arrested on Monday, March 28, 2022 at Dwangwa Trading Centre when he was trying to send the money into his Airtel Money wallet.
Police have seized 115 suspected Five Thousand Kwacha notes bearing one serial number AA7915614.
Facts are that, at the time in material, the suspect went to an Airtel money agent at Dwangwa Trading Centre where he wanted to transfer K575,000 into his Airtel Money account.
However, the Airtel Money agent told the suspect that she had only K60,000. The suspect gave the agent a go ahead and produced the alleged bank notes which made the agent suspicious upon seeing the alleged banknotes.
She later informed her friend and the matter was reported to Dwangwa Police Station. Police responded swiftly by deploying detectives who rushed to the place and arrested the suspect.
Meanwhile, Police are investigating into the matter to establish the source where the counterfeit banknotes were printed and how far the counterfeit banknotes have been distributed.
The fake banknotes will be taken to Reserve Bank of Malawi for authentication by experts before the suspect is taken to court.
The incident comes just over a month after the K5000 banknote got into circulation.
Police in the district have since advised the people to be careful when they are exchanging banknotes for them not to be duped.
Yesaya Qoto hails from Mwelekete Village, Traditional Authority Mtwalo in Mzimba District.