Fake Currency Racket Busted in Maharashtra: Counterfeit Notes Worth Rs 60 Lakh Seized from Bungalow in Ahilyanagar; 7 Arrested

A fake currency racket linked to Ahilyanagar, Pune, Beed, and other parts of Marathwada was busted, and counterfeit notes worth Rs 60 lakh were seized following a raid on a luxurious bungalow being used as a printing press in Waluj MIDC, Tisgaon, on Friday. 

The trail began after two youths were caught using fake notes to buy cigarettes in Ahilyanagar on Sunday. Over the next five days, seven people were arrested in connection with the racket. Police suspect that a significant amount of counterfeit currency is still in circulation. The main accused, Ambadas Sasane, a resident of Shevgaon in Ahilyanagar district, is currently absconding.

Chain of Arrests in Just Four Days

July 27: API Pralhad Gite from Ahilyanagar tehsil police station detained Nikhil Gangarde (27) and Somnath Shinde (25) at Ambilwadi with fake notes worth Rs 80,000. Acting on SP Somnath Gharge's orders, a larger probe was launched.
July 28: Pradeep Kapre (28) from Beed was arrested.
July 30: Mangesh Shirsath (40, Shivajinagar) and Vinod Arbat (53, Satara) were nabbed from Tisgaon; they revealed the location of the printing unit.
July 31: Akash Bansode (27, Petnagar) and Anil Pawar (34, Mukundnagar) were held. All accused hail from Chhatrapati Sambhajinagar or nearby towns.

Trio Ropes in Minors

Sasane had rented a luxurious bungalow in Tisgaon three months ago. With the owner living elsewhere, the location proved ideal for setting up a secret press. Sasane reportedly befriended two accused in jail, later securing bail for one. The trio connected through old real estate dealings, then launched the fake note operation and even roped in minors.

Also Read | Ahilyanagar: Pathardi Talathi Arrested by ACB for Accepting Rs 50,000 Bribe.

Modus Operandi: 50% Exchange Deal

The initial investigation revealed that Sasane and Bansode offered Rs 1 lakh in counterfeit notes in exchange for Rs 50,000 in genuine currency. The operation was well-organised and extended across districts.

Police Custody, More Arrests Likely

The Ahilyanagar court remanded Mangesh and Vinod to three days' police custody on Friday to trace Sasane and others involved in the distribution network. Police believe a larger stock of counterfeit currency is still in circulation.

Previous Cases Connected

July 2023: A racket busted in Vaijapur had links to Beed; youths from Majalgaon and Parli were held.
March 2024: City Chowk police arrested Santosh Shirsath with fake notes.
April 2025: Counterfeit currency was found in a CDM machine at Bajajnagar Bank.
June 2025: Rajan Bramhe of Ahilyanagar was caught with fake currency at the Cantonment Market. Mani Awhad from Waluj was also named in the case.