Guj: Fake foreign money notes with Rs 317 crores face worth seized from 4 cities; kingpin held in Mumbai

By PTI

SURAT: City police seized faux foreign money notes with the face worth of Rs 317 crore from numerous areas in Gujarat and Mumbai and arrested six individuals, officers stated on Tuesday.

The predominant accused, Vikas Jain, was picked up from Mumbai. He runs a courier agency with branches in numerous cities. The counterfeit foreign money notes have been seized from numerous areas in Mumbai, Anand, Surat and Jamnagar.

The Fake Indian Currency Notes (FICN) in denominations of Rs 2,000 and Rs 500 in addition to these of scrapped notes of Rs 500 and Rs 1,000 have been seized after the current arrest of 1 Hitesh Kotadiya, who was driving an ambulance with the faux foreign money having the face worth of Rs 25.8 crore, the Surat (Rural) Police stated in a launch.

More than 28 items of the seized FICN had “Reverse Bank of India” and “movie shooting purpose only” printed on them, which the police stated was meant to mislead authorities.

Officials of the Reserve Bank of India (RBI) and forensic consultants have established the seizure as FICN, police stated.

A First Information Report (FIR) was registered towards the six individuals below sections 489 (A)(B)(C) (visitors or use as real counterfeit foreign money notes), 406 (prison breach of belief ), 420 (dishonest), 201 (inflicting disappearance of proof), and 120 (B) (prison conspiracy) of the Indian Penal Code (IPC).

According to police, Jain provided FICN to the accused individuals. He runs the courier service with workplaces in Gujarat, Maharashtra, Madhya Pradesh and Delhi.

Jain used to get the faux banknotes printed in numerous cities in north India and transport them to Mumbai via his courier service.

He hid the faux foreign money at a godown within the Maharashtra capital, the discharge stated. Police seized faux notes with a face worth of Rs 227 crore of the entire seizure from Mumbai alone.

The accused individuals have been passing off FICN as real banknotes and so they had nothing to do with film manufacturing, police stated. All the six accused conspired to cheat corporations which donated cash to a belief, police stated.

SURAT: City police seized faux foreign money notes with the face worth of Rs 317 crore from numerous areas in Gujarat and Mumbai and arrested six individuals, officers stated on Tuesday.

The predominant accused, Vikas Jain, was picked up from Mumbai. He runs a courier agency with branches in numerous cities. The counterfeit foreign money notes have been seized from numerous areas in Mumbai, Anand, Surat and Jamnagar.

The Fake Indian Currency Notes (FICN) in denominations of Rs 2,000 and Rs 500 in addition to these of scrapped notes of Rs 500 and Rs 1,000 have been seized after the current arrest of 1 Hitesh Kotadiya, who was driving an ambulance with the faux foreign money having the face worth of Rs 25.8 crore, the Surat (Rural) Police stated in a launch.

More than 28 items of the seized FICN had “Reverse Bank of India” and “movie shooting purpose only” printed on them, which the police stated was meant to mislead authorities.

Officials of the Reserve Bank of India (RBI) and forensic consultants have established the seizure as FICN, police stated.

A First Information Report (FIR) was registered towards the six individuals below sections 489 (A)(B)(C) (visitors or use as real counterfeit foreign money notes), 406 (prison breach of belief ), 420 (dishonest), 201 (inflicting disappearance of proof), and 120 (B) (prison conspiracy) of the Indian Penal Code (IPC).

According to police, Jain provided FICN to the accused individuals. He runs the courier service with workplaces in Gujarat, Maharashtra, Madhya Pradesh and Delhi.

Jain used to get the faux banknotes printed in numerous cities in north India and transport them to Mumbai via his courier service.

He hid the faux foreign money at a godown within the Maharashtra capital, the discharge stated. Police seized faux notes with a face worth of Rs 227 crore of the entire seizure from Mumbai alone.

The accused individuals have been passing off FICN as real banknotes and so they had nothing to do with film manufacturing, police stated. All the six accused conspired to cheat corporations which donated cash to a belief, police stated.