SURAT: A fake money racket propagate across southern Gujarat and Nashik in Maharashtra has been divided by Valsad authorities with arrests of more accused by Nashik on Wednesday.
Last week cops had arrested four individuals for distributing fake currency notes from village economies situated across the Gujarat and Maharashtra boundary.
Five accused Haridas alias Haresh Chaudhary, Krutesh alias Ajay Bochal, Jai Singh Valvi along with Bhagvanta alias Bhagwan Gumbade that had been involved in print of those fake currency notes of Rs 500 denomination were detained on Wednesday.
These accused usage to circulate the bogus currency on the marketplace by using their four accomplices, who had been nabbed a week.
Police stated that Chaudhary and Bochal watched the initial notes and following slight correction during applications, used to publish fake money notes.
The bogus notes were subsequently handed to Valvi and Gumbade.
“The accused had formed a series of flow wherein you would continue to keep some notes and move on the rest to another,” explained a police officer.
Four other people who were detained a week were also accountable for overseeing the notes.
Police stated they employed to circulate the notes from the cities on Gujarat-Maharashtra boundary and neighborhood markets together with first notes to prevent any distress.
Thus far, authorities have captured 300 fake money notes in the accused.
Through analysis, it was discovered that both Chaudhary and Bochal were the masterminds of this racket.
Previously, Chaudhary was detained under the Prohibition Act from Saputara and Waghai authorities.
Bochal, a BSc graduate, joined hands with Chaudhary to earn some fast cash.
Masterminds of fake currency racket nabbed out of Nashik
