Gujarat police have busted a major counterfeit currency operation, arresting four individuals, including Maulik Patel, an Indian-origin Australian businessman, who is accused of masterminding the scam.
It is reported that Maulik Patel, 36, allegedly turned to printing fake Australian dollars after incurring significant losses in his transport business in Australia.
The operation was uncovered when 24-year-old Ronak Rathod was caught trying to exchange 119 counterfeit $50 Australian notes, valued at ₹2,240 (AUD 40 each). His arrest led authorities to Khush Patel (24), who had supplied the fake currency, and eventually to Maulik Patel, who, along with 20-year-old Dhruv Desai, was producing the counterfeit notes in a facility in Ahmedabad’s Vatva area.
During a raid, police seized 151 counterfeit Australian $50 notes, as well as equipment used in the production, including a high-end printer, laptops, and specialized materials. The gang’s total seized assets were valued at approximately ₹11,92,500 (AUD 22,000).
Maulik Patel, originally from Gujarat’s Patan district, had moved to Australia with his family 20 years ago and became an Australian citizen in 2012. Faced with business setbacks in Australia, he resorted to printing fake currency in India, with the goal of exchanging the counterfeit bills for Indian rupees.
Indian authorities have now launched further investigations to uncover the full extent of the operation.
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