A key associate involved in a fake currency racket dealing with counterfeit Rs 500 notes was apprehended by the Ahmedabad Crime Branch. Bhavesh Gajera, aged 46 and residing in Surat, was taken into custody for his role in the production and distribution of forged Indian currency. The arrest stemmed from a significant operation on March 18, where the Crime Branch intercepted a vehicle in Amraiwadi and detained seven individuals, seizing counterfeit notes worth Rs 2,48,26,500.
The accused individuals, including Gajera, were allegedly en route to circulate the counterfeit money when they were intercepted by authorities. Gajera, described as actively involved in the conspiracy to print fake notes, has been remanded in police custody for six days. Investigators revealed that Gajera, along with other accomplices, had already circulated counterfeit notes amounting to about Rs 20 lakh earlier in February 2026.
Further inquiry disclosed that Gajera, along with his associates, was part of a pre-planned scheme orchestrated by the main accused, Pradip Jotangia, who is identified as a self-styled spiritual figure or “Guru/Baba.” The investigation highlighted Gajera’s role in providing financial support for acquiring equipment and materials used in printing the fake currency. Additionally, three mobile phones valued at Rs 15,000 were confiscated from Gajera.
Authorities uncovered a wider counterfeit currency network operating from an ashram-based setup in Surat, connected to the group. The group’s operations involved sourcing high-quality paper with imitation security features from Chinese suppliers and setting up printing facilities in residential locations. The counterfeit notes were initially tested in small transactions before being distributed through informal channels like local markets and intermediaries.
The investigation is ongoing to identify more individuals associated with the racket, track the supply chain of materials, and ascertain the full scope of the operation.
