Kashimira Police have arrested three people in Vasai for allegedly running a fraud promising triple returns by claiming blank papers could be converted into genuine currency using chemicals. Police seized 195 ₹500 notes, chemicals and other materials worth around ₹1.36 lakh during a raid at a Kajupada hotel.

Kashimira Police arrested three suspects and seized currency notes, chemicals and other materials during a raid in Kajupada | AI Generated Representational Image

Vasai, September 22, 2026: Kashimira Police have busted a gang that allegedly lured people with promises of getting three times their money by claiming that blank papers could be converted into genuine Indian currency notes using a chemical. Three people, including two women, have been arrested in connection with the case.

Chemical Currency Fraud Exposed

According to police, the accused were allegedly operating from the Golden Retreat Hotel in Kajupada. On September 7, 2026, they allegedly demonstrated a method in which Rs 500 notes coated with a black-coloured chemical were shown as being washed and converted into genuine-looking currency. The accused allegedly convinced victims that if they handed over genuine currency notes, they would receive three times the amount in return.

Based on confidential information, police officials conducted an immediate raid on the hotel premises and arrested three suspects.

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Three Accused Arrested

The arrested accused have been identified as Amol Vasant Bhandar (43), Chaitrali Shankar Chakraborty (27), and Nisha Sunil More (41).

During the operation, police seized 195 Rs 500 notes, along with chemicals and other materials allegedly used for making counterfeit currency. The total value of the seized material has been estimated at around Rs 1.36 lakh.

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Case Registered Under BNS

A case has been registered at Kashimira Police Station under relevant sections of the Bharatiya Nyaya Sanhita (BNS), 2023, including Sections 318(4), 62 and 3(5).

The operation was carried out under the guidance of senior police officers, with a team comprising police personnel from the crime detection unit and Kashimira Police Station.

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