Rajasthan: Fake currency racket busted in Alwar; three arrested with fake currency

Jaipur, July 12 (IANS) In a shocking case of fraud, Alwar police in Rajasthan have busted a gang that was duping innocent people by luring them into a fake money-multiplication scheme using counterfeit “Manoranjan Bank” notes.

The gang promised to multiply victims’ money five times and handed over fake currency that closely resembled real notes, but held no actual value. Vaishali Nagar Police Station arrested three accused and recovered approximately Rs 1 crore in fake currency from their possession.

The gang targeted unsuspecting people by promising to return five times the amount they invested. Once the victims handed over genuine cash, the fraudsters replaced it with wads of fake notes issued by the so-called “Indian Entertainment Bank.”

These notes were printed in Rs 100, Rs 200, Rs 500, and Rs 2000 denominations and appeared strikingly real at first glance, making it difficult for victims to detect the fraud immediately. In total, the police recovered 185 bundles of these fake notes - nearly Rs 1 crore in fabricated currency.

The arrested accused have been identified as Prakash Chand Jatav (35), resident of New Basti Divakari, PS Vaishali Nagar, Naveen Kumar Jatav (24), from village Bhanokhar, PS Bahtukla, currently residing at Kaimala, Alwar and Jamshed alias Jamma Mev (43), resident of Testi village, PS Sikri, District Deeg Superintendent of Police Sanjeev Nain informed that the operation was carried out under the guidance of Additional SP Tejpal Singh and CO City Angad Sharma.

The core team was led by SHO Guru Dutt Saini of Vaishali Nagar Police Station. The operation was a result of coordinated police work by SHO Guru Dutt Saini and his team, including Head Constable Mukesh, and Constables Rizwan, Shekhar, Govind, and Shashikant.

Further investigation is underway, and the police are probing whether the gang had wider connections or if more such frauds have been committed elsewhere.

--IANS

arc/dan