How a gang pumped Rs 50 crore fake coins into India

Sep 26, 2023

Upkar and Sweekar Luthra are known names in the fake currency circle. They have been arrested, released and re-arrested many times yet they continued to run the syndicate. The gang, working across north India, was behind minting and circulating fake coins with the face value of around Rs 50 crore in the past few years. Image for representation

Its factories were raided and fake coins with the face value of more than Rs 6 lakh in denomination of Rs 5 and Rs 10 were seized. Later, they roped in a partner, Ramesh Verma, and set up a factory in Uttam Nagar. But Verma soon became a threat to the Luthra brothers. Upkar then hired hitmen and killed him. Image for representation

The gang bought several machinery such as a hydraulic machine, grinding kharad machine, lathe machine and a surface grinder, and converted a house in JJ clusters into makeshift factory. Image for representation

The gang used to procure raw material like metallic sheets from Mayapuri and Tilka Nagar. Upkar had already learnt to make dyes of counterfeit coins and taught a few others in the gang as well. Image for representation

Coins were carved out of brass sheets in two steps. First the outer ring is made and then the central section printed. The central portion would be Nickel polished. Both parts are then joined together in a hydraulic machine. The coins were coated with anti-rust spray to give them a real look. Image for representation

The making cost for a fake Rs 10 coin was Rs 4.5 and Rs 2 for a fake Rs 5 coin. The manufactured coins were then circulated through toll tax centers, weekly markets and small shopkeepers in various parts of Delhi, Rajasthan and Haryana. Image for representation

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