Lokmat News Network
Chhatrapati Sambhajinagar
A fake currency racket with links to Ahilyanagar, Pune, Beed, and other parts of Marathwada was busted after two youths were caught using counterfeit notes to buy cigarettes in Ahilyanagar. Acting swiftly, police raided the Tisgaon area on Thursday night and arrested two suspects. Within five days, seven people were held and fake notes worth Rs 60 lakh were seized. Police suspect more counterfeit currency is still in circulation.
The arrest led police to a fake currency press set up in a bungalow in Waluj MIDC. Fake notes worth Rs 60 lakh were seized, and seven persons have been arrested so far. The main accused, Ambadas Sasane of Shevgaon (Ahilyanagar), is on the run.
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 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.
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Operation run from a rented bungalow
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.
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Modus operandi: 50% exchange deal
Initial investigation reveals that Sasane and Bansode offered Rs 1 lakh in counterfeit notes in exchange for Rs 50,000 in genuine currency. The operation was well-organized and extended across districts.
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Police custody, more arrests likely
On Friday, the Ahilyanagar court remanded Mangesh and Vinod to three days’ police custody to trace Sasane and others involved in the distribution network. Police believe a larger stock of counterfeit currency is still in circulation.
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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 Cantonment Market. Mani Awhad from Waluj was also named in the case.