Counterfeit Currency Operation Uncovered in Nagpur: ₹37L Seized
Police in Nagpur have seized ₹37 lakh worth of counterfeit ₹500 notes from a rented flat, leading to an investigation into a possible economic terror plot.
1,600 fake ₹500 notes worth over ₹37 lakh were seized in Nagpur.
The operation was discovered following a tenancy dispute involving the prime suspect, Pushpam Bhandane.
Investigators are probing the extent of the counterfeit currency network and its potential links.
In a significant crackdown on counterfeit currency, Nagpur police seized 1,600 fake ₹500 notes valued at over ₹37 lakh from a rented flat in the Three Star Society, Chaitanya Nagar, on Saturday. The operation came to light after a minor dispute between the landlord and tenant escalated, prompting police intervention to investigate a potential economic terror plot.
The prime suspect, Pushpam Bhandane, 29, had been renting the flat since September 26 of the previous year. His landlord, Ramesh Harde, became suspicious of Bhandane's activities after he failed to pay rent for two months. When Harde requested Bhandane to vacate the premises, the tenant's refusal led him to contact the Wathoda police for assistance.
Upon arrival, police found the flat locked and were unable to reach Bhandane, whose phone became unresponsive after a brief exchange. The landlord used a master key to enter the flat, where authorities discovered a printer, a laptop, and a substantial cache of counterfeit currency. Alongside the fake notes, several A4-sized papers were also found, indicating a possible printing operation.
Investigators are currently analyzing the seized printing equipment to trace the origin of the counterfeit notes and determine how they were intended to be circulated. Efforts are underway to locate Bhandane, with the Mumbai police being alerted to assist in tracking his movements and last known whereabouts. Authorities are also exploring whether this operation is part of a larger counterfeit network or an isolated incident.
The implications of this discovery are significant, as it raises concerns about the potential for economic disruption and the integrity of currency in the region. Law enforcement agencies are committed to uncovering the full extent of the operation and preventing further circulation of counterfeit currency in Maharashtra and beyond.