Police have busted a fake currency note printing racket in Gujarat’s Rajkot city and arrested three persons after seizing counterfeit notes with a face value of Rs 23.44 lakh from their possession, officials said on Thursday.
A total of 4,957 Fake Indian Currency Notes (FICN) were recovered from the possession of the accused, they said.
The police first seized 200 fake currency notes of Rs 500 denomination from a shop belonging to one Vishal Gadhiya. The police apprehended him and one Vishal Buddhadev.
When questioned, Gadhiya revealed the notes were supplied to him by one Nikunj Bhalodia, the crime branch officials said.
When the police raided Bhalodia’s house, they seized FICN of Rs 500 and Rs 100 denominations and various items including a printer-scanner and computer systems used to print the notes, the police said.
Bhalodia used to scan the notes and edit JPG files in photoshop before taking out prints through the colour printer, they said.
The accused were booked under relevant provisions of the Indian Penal Code. Further investigation was underway, the police added.