Suspected counterfeit coins seized in Mumbai, worth Rs 9.4 lakh

Mumbai: Coins worth Rs 9.4 lakh were seized by Mumbai and Delhi police in a joint operation. They are suspected to be counterfeit. The Government Mint will verify if the coins are authentic.

The police arrested one person - Jignesh Gala - in connection with distributing coins. Investigators have learnt that he worked for a commission, reported ANI.

The police said Gala disclosed that he has been involved in the procuring and supplying of Indian currency coins for the last 7-8 years. "Initially, he used to collect currency coins from Banks in Surat, local businessmen, and traders of old currency. However, while working in the sector, he started collecting FICCs even from unknown persons and met mastermind Naresh Kumar, who offered a regular supply of FICCs to him."

Naresh Kumar delivers consignments from Jaipur to Mumbai in various traveller buses. He later started sending consignments via travel agents.

The police added that each consignment has FICCs with face value worth Rs 8-10 lacs. In two years, he has obtained around 15-16 such consignments and circulated them in the open market.

The special cell of Delhi Police was investigating a case of counterfeit currency. Technical analysis after arresting five accused - Naresh Kumar, Santosh Mandal, Dharmender Kumar Sharma, Dharmender Mahto, and Shravan Kumar Sharma, they got leads that a person involved in their case was in Malad (E). Police also recovered counterfeit Indian coins in the denomination of Rs 10 amounting to a total worth of Rs 1,01,612, four operational complete assemblies of the pressure machines with an electric motor, die used to engrave the emblem, and other features on the coins, half finish coins, and raw materials.

The team came to Mumbai on February 1 and approached Mumbai's Dindoshi Police for assistance. His custody was handed over to Delhi police.