Mumbai Police Bust Fake Currency Racket, 4 Arrested
In a major operation, the Byculla police in Mumbai uncovered a counterfeit currency racket, arresting four individuals involved in producing and circulating fake notes across the city. The investigation revealed that the group had been operating for over five months, manufacturing counterfeit currency in Palghar district.
Acting on a tip-off, the police intercepted suspects near Prasad paan-bidi general store. Three individuals, identified as Asif Bable alias Usman (48), Yasin Shaikh (42), and Bhim Bandela (47), were apprehended. Upon searching them, fake notes in denominations of ₹200 and ₹500 were seized.
Further interrogation led the police to Wada in Palghar district, where they arrested Neeraj Wekande (25). At the Wada location, authorities discovered a trove of counterfeit notes and equipment used for their production, including a laptop, color printer, lamination machine, and fake note detector.
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According to investigators, the group’s strategy involved slipping counterfeit notes into bundles of genuine currency. The operation was financed by Wekande and another suspect who remains at large. Police suspect that the group supplied smaller counterfeit rings across Mumbai, amplifying the spread of fake currency.
The accused have been booked under multiple sections of the Bharatiya Nyaya Sanhita, including counterfeiting and using fake notes as genuine. Efforts are underway to apprehend the financier and other accomplices involved in the racket.
The recovery of advanced printing equipment and materials highlights the sophistication of the operation. Counterfeit currency poses a significant threat to economic stability, and the Mumbai Police’s swift action reflects their commitment to tackling such crimes.
This bust underscores the importance of vigilance against counterfeit currency. The Byculla police’s efforts have not only disrupted a major racket but also sent a strong message about the consequences of engaging in illegal activities.
