The North News
Chandigarh, October 3
The Chandigarh Police have busted a counterfeit currency racket, arresting three men and seizing fake notes worth ₹24.27 lakh along with printing equipment. The accused have been identified as Gaurav Kumar alias Ranjit, a resident of Mandi district in Himachal Pradesh, Vikram Meena alias Vicky from Punjab’s Sangrur, and Jitendra Sharma from Jhalawar in Rajasthan. Police said the case first came to light when Gaurav and Vikram were caught recently with ₹10 lakh in fake notes during a delivery, acting on a tip-off. Interrogation led investigators to Jitendra Sharma, who was allegedly running a counterfeit printing operation from his home in Rajasthan. From his premises, the police recovered printers, ink, cutters, bond paper with security threads, and two vehicles used in the operation.
According to Jasveer Singh, SP Crime Chandigarh, the racket’s network extended beyond Chandigarh into Himachal Pradesh, Punjab, Rajasthan and Jammu & Kashmir. Investigations suggest the operation was initially started by a man named Pramod Kakre from Madhya Pradesh, who has already been arrested there. Jitendra Sharma, police said, turned to the illegal trade after suffering business losses.
Police believe much of the counterfeit currency was delivered through courier and transport companies. WhatsApp and Telegram groups were allegedly used to manage communications. The accused reportedly exchanged fake notes in bulk, with deals structured as one lakh rupees in genuine currency for up to three lakh in counterfeit notes. These were then resold at margins of two to two-and-a-half times the real money exchanged.
The police officials are now trying to trace the source of the specialised security paper used in printing the fake notes. Police said the bust represents a significant blow to organised counterfeit operations in northern India.
