Daijiworld Media Network - Ahmedabad/Surat

Ahmedabad/Surat, Mar 19: The Ahmedabad Crime Branch has dismantled a major counterfeit currency operation, seizing Rs 2.38 crore in fake Rs 500 notes and arresting seven people, including a woman, involved in producing and distributing the forged notes.

Acting on intelligence, officers intercepted a white Toyota Fortuner near Torrent Power, Amraiwadi on Wednesday night. Inside the vehicle, bundles of fake notes hidden in a black bag were discovered, and all occupants were taken into custody.

The arrested have been identified as Mukesh Thummar, Ashok Mavani, Ramesh Bhalar, Divyesh Rana, Pradeep 'Guru' Jotangia (who runs a yoga foundation), Bharat Kakadiya from Surat, and a woman from Katargam.

Investigation revealed that the group had been manufacturing counterfeit currency at a Surat residential premises over the past four to six months. The site, disguised as a stationery unit, was equipped with printers, paper cutting machines, and other equipment, producing high-quality notes that were difficult to distinguish from genuine currency.

Following the arrests, a joint raid by Ahmedabad and Surat Crime Branch teams recovered additional counterfeit notes, printing equipment, laptops, mobile phones, and security thread paper mimicking RBI markings. In Ahmedabad, 42,000 notes worth about Rs 2.10 crore were seized along with the vehicle and cash of Rs 1.2 lac, while Surat authorities recovered Rs 28 lakh in fake notes and equipment.

Authorities said the gang sourced specialized security thread paper from China via online platforms like Alibaba, with payments made using cryptocurrency. They also employed digital tools, including AI platforms such as ChatGPT and graphic design software, to refine the notes’ appearance.

The operation reportedly began with small-scale circulation in local shops before expanding to larger volumes. Police estimate around Rs 10 lac of counterfeit currency may already have entered circulation. The group had intended to supply notes at a commission of 20–25%, transporting consignments from Surat to Ahmedabad using a vehicle with a government department plate to avoid suspicion.

Two suspects, including a contact with Chinese suppliers, remain at large. Officials are tracing interstate and international links, financial transactions connected to the Pradeep Yog Foundation, and properties associated with the accused.

All seized materials are being sent for forensic examination, and the Reserve Bank of India has been notified. A case has been registered at the DCB Police Station, with investigations ongoing.