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Rajkot city police bust racket of printing counterfeit notes, arrest two

During search of the vehicle, police found 1300 counterfeit notes of Rs2000 denomination and 20 fake notes of Rs500 denominations.

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Detection of Crime Branch of Rajkot claimed to have cracked a racket of printing counterfeit currency notes by arresting two persons with currency notes of Rs26.10 lakh face value from the city on Monday. This is second case in the last two weeks when people have been arrested for counterfeiting.

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Following a tip off, a team of DCB sleuths stopped a Swift car at Hanuman Madhi Chowk on Raiya road at 7:45 am. During search of the vehicle, police found 1300 counterfeit notes of Rs2000 denomination and 20 fake notes of Rs500 denominations. These counterfeit notes with cumulative face value of Rs26.10 lakh were hidden in speaker box of the car, Rajkot city police commissioner Anupam Singh Gehlot told media persons later in the day.

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The accused were identified as Hruday Jagani (29), a resident of Devasya Bungalow in Bopal area of Ahmedabad and Lakshman Chauhan (24), a resident of Balasar village in Rapar taluka of Kutch district. Police also seized a high-quality printer from the car. The duo were formally arrested at 11 am. Police said that Jagani was a native of Devda village of Gondal taluka in Rajkot district.

Gehlot said that Jagani had knowledge of precision printing and therefore used to print counterfeit currency notes which resembled to the newly issued notes of Rs2000 and Rs500 denominations to a great degree. “Their modus operandi push counterfeit notes into circulation was to insert them in wades of original notes. For example, they used to insert fake notes worth Rs15000 to Rs20000 in bills with face value of Rs2 lakh,” the commissioner further said.

Police said that the duo were in the city to deliver cash to a person. “They had been sent to Rajkot by one Jignesh Shah, an Ahmedabad-based property dealer for delivering the cash to a party at 10 per cent premium. But they were caught before they could meet the receiver. Shah would scout for customers wanting to exchange their old notes illagally and the duo would deliver the cash,” said Gehlot.

DCB said that the gang used to pass off the counterfeit notes as original and used to charge 10 per cent premium in exchange of old notes. The wades of counterfeit notes seized from the duo bore lables of State Bank of India with police saying that the accused had used that trick to convince customers into believing that the notes were original.

This is second case where police have arrested people for allegedly counterfeiting currency notes in the state since November 8 when old currency notes of Rs500 and Rs1000 denominations were demonitised. On December 14, the Local Crime Branch of Kutch West police had arrested two men from Madhapar village of Bhuj taluka in Kutch with 59,500 worth of counterfeited notes of Rs500 denomination. The duo were caught with printer and papers for printing fake notes.

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Based on a complaint filed by DCB PSI AS Sonara, the Crime Branch have booked the duo for counterfeiting and started further investigating the case. Besides the counterfeit notes, police also seized four mobile phones, a new Rs500 denomination note, three notes of Rs1000 denomination and seven old notes of Rs500.

First published on: 26-12-2016 at 08:14:08 pm
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