The UP fake currency racket operating in Shravasti district has been busted by a joint team of the Uttar Pradesh Special Task Force (STF) and Sonwa Police. Three men were arrested, and 804 counterfeit Indian currency notes with a combined face value of ₹1.74 lakh were seized during the operation.
According to police, the accused were allegedly preparing to circulate fake notes during the Diwali festive season. Their plan reportedly involved exchanging ₹3 lakh in counterfeit currency for every ₹1 lakh in genuine cash. Investigators said the group was also looking for customers interested in the illegal transaction.
The operation was allegedly being run from Giriraj Rice Mill in Bhitiya Chichri village along Malhipur Road. Acting on specific intelligence received on November 5, the joint police team raided the premises and caught the suspects.
The arrested men have been identified as Girija Shankar Jaiswal and Narendra Kumar Chaurasia, both residents of Bahraich, and Vrijendra Goswami, who lives in Ikauna in Shravasti.
Police Recover Fake Notes and Printing Equipment
During the raid, police recovered 804 counterfeit notes in denominations of ₹100, ₹200 and ₹500, collectively valued at ₹1.74 lakh.
The seized items also included a Canon colour printer, four filled ink refills, 156 A4 sheets containing printed counterfeit notes, cutting equipment, three mobile phones, identity documents and ₹5,500 in cash.
Police said the recovery and arrests were videographed as part of the operation.
YouTube Videos and Mumbai Allegedly Used to Learn Counterfeiting
During questioning, the accused allegedly told investigators that Goswami had learnt the technique of printing counterfeit currency in Mumbai and had also gathered information by watching YouTube videos.
According to police, Goswami was responsible for printing the notes, while the other two men handled cutting, bundling and packaging them for circulation.
The group allegedly planned to use the fake currency to purchase goods and jewellery from shopkeepers during Diwali. They also intended to circulate the notes among people involved in gambling, investigators said.
The profits from the operation were reportedly to be divided equally among the three accused.
Case Registered Against Three Accused
A case has been registered against the three men at Sonwa police station, and they are being sent to court for further legal proceedings.
Police said no previous criminal record had been found against Jaiswal and Chaurasia. Goswami, however, has a case registered against him at Ikauna police station dating back to 2020.
The investigation will establish the full extent of the alleged operation and whether other people were involved in the planned circulation of counterfeit currency.
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