Ahmedabad, March 19 City police have seized high-quality counterfeit Indian currency worth ₹2.38 crore and arrested seven persons, officials said on Thursday.
Acting on a tip-off, the crime branch apprehended the accused, including a spiritual and yoga teacher based in Surat, when they arrived here on Wednesday, and seized 42,000 fake ₹500 denomination notes.
Mukesh Thummar, Ashok Mavani, Ramesh Bhalar, Divyesh Rana, Pradip Jotangiya, Bharat Kakadiya, and a woman allegedly brought the high-quality Fake Indian Currency Notes (FICN) in a SUV which was intercepted near the Amraiwadi area, said Deputy Commissioner of Police Ajit Rajian.
Pradip Jotangiya is a "spiritual and yoga teacher" at Shree Satyam Yog Foundation in Surat. The SUV had a "VVVIP" sticker and a plate reading "Shri Satyam Yog Foundation Recognized by Ayush Mantralay, Govt. of India".
Currency bundles were recovered from a black bag and concealed packaging inside the vehicle, the official said, adding that the process to arrest the accused was underway.
A crime branch team was immediately sent to Surat, and in coordination with the Surat crime branch, another ₹28 lakh in fake currency was seized from a house where notes were being printed. Some equipment was also seized, DCP Rajian added.
Mukesh Thummar was allegedly the kingpin of the racket and arranged equipment and raw material including printers and paper cutting machines, according to an official release. Counterfeit currency was being printed at the place for the last four months, it added.
The accused had procured security thread paper resembling RBI markings from Chinese sources through e-commerce platforms such as Alibaba, it said.
The investigation also revealed that photo-editing software and AI-based platforms such as ChatGPT were used to refine the design, layout, and visual features of the counterfeit notes. One of the accused had expertise in graphic editing and printing processes.
The accused initially tested the counterfeit notes by using them in a few transactions. After gaining confidence that the fake currency was not being detected, they engaged agents to produce additional notes, Rajian said.
The accused will be produced before a court later on Thursday and police will seek their custody, he said.