Two individuals, including a woman, were arrested by Navi Mumbai’s Financial Intelligence Unit (FIU) on Saturday for allegedly printing fake currency notes. The suspects, identified as Vivek Kumar Prem Babu Pipal (35) and Ashwini Vishwanath Sarovode (36), were residing at a lodge in Mahape, Navi Mumbai, where they executed the fraudulent operation.
The arrest followed a tip-off, leading to a raid at the Sree Krishna Palace Lodge on Friday around 10 a.m. The police seized counterfeit currency worth Rs81,000 from the room, along with equipment used to print the fake notes.
According to police, Pipal had previously worked as a car dealer, while Sarovode was employed in a private bank’s sales department. Despite both being jobless for over a year, they led an extravagant lifestyle, staying in a lodge, traveling by car, and ordering food from hotels. Suspicion arose among the lodge’s neighbors, prompting the investigation.
During the raid, the authorities discovered large wads of fake currency, stacks of bond paper, and tools including printers, printing ink, cutters, and a measuring scale—indicating that the duo had been manufacturing the fake notes. Additionally, 13 mobile phones were recovered from their possession.
The suspects initially claimed to be siblings, but the police are still verifying their relationship. Investigators are also exploring how much of the fake currency had been circulated in the market.