Fake Currency Racket Busted in Surat Ashram
₹2 crore counterfeit notes seized, six arrested in major Crime Branch crackdown
- Fake currency network run from Surat ashram exposed
- Over ₹2 crore in ₹500 fake notes seized
- Six arrested, including a woman, in Ahmedabad operation
- Gang used “1:3 exchange” scheme to circulate fake money
GG News Bureau
Surat, 19th March: In a major crackdown on economic crime, the Ahmedabad Crime Branch has busted a large fake currency racket operating out of a spiritual ashram in Surat, arresting six individuals and seizing counterfeit notes worth over ₹2 crore.
The operation began in Ahmedabad’s Amraiwadi area, where police intercepted a Fortuner vehicle and caught the suspects during what officials described as their first major deal. The arrested individuals were allegedly part of a syndicate running a “1:3 exchange” scheme, offering ₹1,500 in fake notes for every ₹500 of genuine currency.
Following the arrests, Crime Branch teams conducted raids at the ‘Shree Satya Yog Foundation’ ashram located in Dhoran Pardi village of Kamrej Taluka in Surat district. The ashram, which outwardly functioned as a spiritual and yoga centre, was found to house a sophisticated counterfeit currency printing unit.
Police recovered more than 40,000 fake ₹500 notes along with high-end printing machines, computers, specialised paper and colour inks used for producing forged currency. Vehicles registered in the name of the ashram were also seized, which were allegedly used for transporting fake currency consignments.
Officials said the scale of the operation was so large that it took several hours to document and record serial numbers of the seized notes during the panchnama process.
Preliminary investigations indicate that the syndicate was planning to expand its network across the country by recruiting agents with promises of high commissions for circulating fake currency in local markets.
While six accused, including a woman, are currently in custody, investigators are probing possible links to a wider network and potential “white-collar” backers. Police are also tracing the origin of the specialised paper used in the counterfeit operation.
A formal FIR is being registered, and further arrests are expected as the investigation progresses.
