Key conspirator in ₹2.38 cr fake currency racket held in Surat

The Detection of Crime Branch Ahmedabad on Friday arrested another key accused in the ₹2.38 crore counterfeit currency case, identifying him as Bhavesh Gajera, a resident of Surat, who is suspected to be one of the main conspirators behind the circulation of money.

Officials said Gajera is believed to have played a crucial role in arranging the circulation of fake currency in Surat and coordinating its distribution network extending to Ahmedabad. Investigators added that he had allegedly established contacts with a local operative in Ahmedabad, to whom consignments of counterfeit notes were to be delivered.

According to preliminary findings, Gajera was also responsible for handling cash settlements in Ahmedabad, indicating his central role in the financial operations of the racket. “He appears to be a key link between the suppliers and the local distributors. His interrogation is likely to reveal critical aspects of the network,” a senior crime branch officer said.

Police further revealed that about a month ago, in February, a meeting was held in Ahmedabad involving Gajera and a local associate, who is currently absconding. Investigators suspect that a prior consignment of counterfeit currency may have already been delivered during this meeting and circulated within the city.

“The local Ahmedabad-based accused, who is yet to be traced, is believed to have facilitated the distribution of fake notes in the city. Efforts are under way to locate him,” officials said.

Crime branch sources estimate that fake currency worth approximately ₹20 lakh had already been circulated across Surat and Ahmedabad by Gajera and his accomplice before the recent crackdown.

Investigators also indicated that the consignment seized in the present case was part of a second planned delivery. “This was not the first attempt. The group had previously tested the market with smaller quantities. The latest consignment was meant for further circulation before we intercepted it,” an officer said.

Background of the case

The development comes in connection with the high-value counterfeit currency case in which fake notes worth ₹2.38 crore were seized earlier by the Crime Branch. Seven accused — Mukesh Thummar, Ashok Mavani, Ramesh Bhalar, Divyesh Rana, Yogguru Pradip Jotangiya, Bharat Kakadiya and a woman, had been arrested in a targeted operation.

They were subsequently produced before the Gheekanta Metropolitan Court, where the Crime Branch got 10-day custodial remand, stating that sustained interrogation was necessary to trace the wider distribution network and identify intended recipients of the fake notes.

During the operation, police had seized counterfeit currency, mobile phones, a car and cash collectively valued at ₹26.20 lakh.

Preliminary interrogation of the arrested accused had revealed that the group allegedly adopted counterfeit printing as a 'shortcut' to generate funds. They initially circulated smaller amounts of fake notes to test their acceptability in the market and avoid detection before scaling up the operation.

Officials now believe that the racket may have interstate links, with Surat emerging as a key hub for circulation and Ahmedabad as a major distribution point.

With Gajera’s arrest, investigators hope to unravel the larger conspiracy, and track the full extent of fake currency already in circulation and recovery of it.