Ahmedabad: City crime branch has arrested another accused in the counterfeit currency racket case in which fake notes with a face value of Rs 2.38 crore were seized from Ahmedabad and Surat. The operation involved printing and circulating counterfeit Rs 500 notes. The accused, Bhavesh Gajera, was arrested during the ongoing investigation into the case first registered on March 18. In the initial operation, seven persons, including a woman, were nabbed from Amraiwadi while allegedly transporting counterfeit Rs 500 notes with a face value of Rs 2.1 crore in an SUV.Officials said the Gajera was actively involved in the conspiracy from the initial stages. According to investigators, Gajera was present during the planning and printing of counterfeit notes and provided financial support for procuring equipment and raw materials. Police said he also played a role in circulating fake currency and had already pushed notes worth around Rs 20 lakh into the market along with other accused earlier this year. He was produced before a court and remanded to police custody for six days for further interrogation. The probe has revealed that the accused planned to route fake currency through land deals and cash transactions where verification is limited. They also intended to use such money in social and religious events to gain influence and avoid suspicion. Earlier raids in Surat led to the seizure of machinery used to print counterfeit notes, including printers, cutting equipment, and digital devices. Police suspect the racket was in operation for several months and involved multiple people across cities. Three mobile phones have been recovered from the accused. Officials said further investigation is underway to trace the full network, identify more persons involved, and track the flow of counterfeit currency already in circulation.
