Fake Currency Racket Busted in Beed, Pune Connection Exposed
Fake Currency Racket Busted in Beed, Pune Connection Exposed(representational Image)
Beed police crack down on a counterfeit currency racket linked to Pune, with key suspects arrested and further investigations underway.
A major fake currency racket has been uncovered in Beed, with a surprising connection to Pune. The Beed city police have registered a case. The police launched a series of raids across fourteen locations, leading to key arrests and the discovery of counterfeit currency operations. They revealed that the accused were printing fake notes using a printer, with specialized paper brought in from outside the state, indicating a larger network involved.
During the raid, the homes of suspects Sunny Athawale, Mahesh Athawale and Manish Kshirsagar were searched. Dangerous weapons, including a knife and a pressure cooker, were also found during the search. Beed City Police Inspector Shital Kumar Ballal disclosed that the counterfeit currency operation extends beyond Maharashtra, with possible links to other states.
The Beed police arrested two suspects, Pravin Gaikwad and Akash Jadhav, from Pune. Both allegedly were involved in distributing the fake notes. Gaikwad, who works as an admission agent for private colleges in Pune, reportedly planned to circulate the counterfeit currency by mixing it with legitimate fees paid by students seeking college admissions. According to the police, Gaikwad was set to receive ₹2 lakh for every batch of fake notes worth ₹4 lakh, supplied by the main accused, Manish Kshirsagar.
Kshirsagar, identified as the mastermind behind the racket, has a criminal record and is believed to have previously circulated fake currency at local businesses in Beed, including restaurants, petrol stations and grocery stores. During Gaikwad’s arrest, police seized ₹8,500 worth of counterfeit notes in denominations of ₹500, ₹200, and ₹100.
Inspector Ballal confirmed that the investigation is ongoing, with authorities searching for other individuals connected to the operation. The case has exposed a broader network of counterfeit currency distribution, potentially impacting multiple regions.
