Fake Currency Racket Busted in Gujarat: Mastermind and Associates Arrested

The Gujarat police have dismantled a fake currency racket involving 151 counterfeit Australian dollars intended for exchange in India. The operation, led by Maulik Patel from Australia, involved local collaborators. Police seized equipment used for printing the fake notes, arresting four individuals, including the key figures behind the scheme.

The Gujarat police have successfully uncovered a fake currency racket involving 151 counterfeit Australian dollar notes, according to a statement by authorities on Thursday. Four individuals, including the alleged mastermind Maulik Patel, have been arrested in connection with the illegal operation.

Authorities revealed that Patel, a 36-year-old businessman settled in Australia, hatched the scheme after incurring business losses. Alongside local accomplices Dhruv Desai, Khush Patel, and Ronak Rathod, he allegedly printed fake currency in Ahmedabad, using a sophisticated setup that included a large printer and computers.

The group sold the fake notes at a lower rate than the market value, which eventually led to their capture. Police remain vigilant in addressing currency fraud to prevent further economic harm.

(With inputs from agencies.)