Chandigarh Police bust multi-state fake currency syndicate; 3 arrested, over Rs 24 lakh seized

Chandigarh Police have dismantled a sophisticated inter-state network involved in the printing and distribution of Fake Indian Currency Notes (FICN). The operation has led to the arrest of three key accused and the seizure of counterfeit notes worth over Rs 24.27 lakh, along with vehicles, printing equipment and other incriminating materials.

Major seizure of counterfeit currency

The Crime Branch of Chandigarh Police recovered a total of 7,157 fake notes, primarily in denominations of Rs 500 and Rs 100. Alongside the counterfeit cash, officers seized two vehicles, printers, ink bottles, paper cutters and security thread-embedded bond papers designed to mimic genuine Reserve Bank of India notes.

Police officials revealed that the syndicate’s operations spanned Chandigarh, Punjab, Himachal Pradesh, Rajasthan, and Jammu & Kashmir, highlighting the inter-state reach of the racket.

Swift action on intelligence inputs

The breakthrough followed a tip-off received on September 25 from a Central agency. Acting on this Intelligence, a police team laid a trap near Shishu Niketan School, Sector-22, Chandigarh. Two suspects – Gaurav Kumar alias Ranjit and Vikram Meena alias Vicky – were apprehended.

Police recovered a bag containing 19 fake Rs 500 notes from Kumar. A search of his car yielded an additional 1,626 counterfeit Rs 500 notes, taking the total to Rs 8.23 lakh. From Meena, officers recovered 392 fake Rs 500 notes valued at Rs 1.96 lakh, hidden in his car.

Following their interrogation, further raids were conducted in Punjab and Himachal Pradesh, where additional counterfeit notes were seized.

Arrest of mastermind in Rajasthan

The investigation widened on October 1, leading to the arrest of Jitendra Sharma (42), from his rented house in Jhalrapatan, Jhalawar district, Rajasthan. A massive haul of Rs 12.20 lakh in counterfeit notes was recovered from his premises, alongside printing machinery, bond paper with embedded ‘RBI Bharat’ threads, and various printing accessories.

In total, the recoveries amounted to counterfeit currency worth Rs 24,27,700, exposing the scale of the illegal operations.

Modus operandi of the syndicate

Investigations have revealed that the accused initially exchanged counterfeit notes through personal meetings but gradually expanded to online platforms. Using social media platforms such as Facebook, Instagram and Telegram, they lured unsuspecting individuals by flaunting images and videos of the fake notes.

The counterfeit money was typically exchanged at a 1:3 ratio, meaning Rs 3 lakh worth of fake notes could be obtained in exchange for Rs 1 lakh in genuine currency. Deliveries were made through courier services or hand-delivered to trusted clients. Buyers either circulated the fake notes directly or mixed them with genuine currency bundles to avoid detection.

Wider network and linked arrests

The operation has also uncovered connections to a broader nationwide network. Arrests in other states include Pramod Katre of Gondia, Maharashtra, and Mohammad Shafie Ganaie in Jammu & Kashmir. Two minors have also been apprehended in related cases.

Authorities believe the syndicate had multiple nodes across India and was growing through mutual references and online recruitment.

Ongoing investigation

Senior Superintendent of Police (Crime) Jasbir Singh, under whose supervision the operation was conducted, confirmed that the case is far from closed. The police intend to bring accused persons from other states on remand to trace the remaining supply chain and destroy the syndicate completely.