Abhinav Verma

What caused young Startup CEO to indulge in fake printing of money ?

Abhinav Verma, the young CEO, is behind bars because of fake currency printing of Rs 2,000 notes.

The entire country is struck with demonetization and is suffering from lack of cash. People are still found standing in long queues either outside banks or ATMs to get cash. However, there are many people in the country who have still not gotten a chance to see the notes with denomination of Rs 2,000.

News about fake currency notes in the market has been surfacing since the new currency came over. Recently, Mohali Police arrested a gang who had Rs 42 lakhs of fake notes in the new currency of Rs 2,000. According to the police, they also found an Audi consisting around Rs 70 lakhs. The arrested ones include a B.Tech graduate, Abhinav Verma; his cousin, Vishaka Verma and a Ludhiana based property dealer named Suman Nagpal.

“The notes were ditto copy of the original ones. Moreover, they had a machine for printing the notes,” reported the SP of the city.

The most shocking fact of the entire incident is that the mastermind behind this fake currency printing is actually a very stupendous and brilliant mind. He had recently been in news because of his innovative and brilliant ideas.

Abhinav Verma, who is aged 21, developed a smart gadget for the blind people with the main motive to improve the visual disability radically. He, in fact, wanted to develop assistive products for helping all kinds of disables. His start-up Embryo S which is based in the city of Chandigarh, functions in 16 countries across the globe. Moreover, he has also been in partnership with many NGOs. Read Demonetization disadvantages .

The police reported that the printing of fake currency took place in Chandigarh in Abhinav’s office itself. He was assisted by Vishaka in the printing of fake currency. The third accused, Suman, did the identification of the customers and directed them to other accused. The team has two other members as well who are on a run currently. The gang of five people was into exchanging Rs 500 and Rs 1000 notes at a commission of 30%.

Everybody is in a state of shock that what enforced such an innovative person to indulge into fake currency note printing. What exactly took him on a wrong path? The reason might be his unending wishes and desires or his rich lifestyle, which either got affected because of demonetization or his current work might not have been able to fetch him enough money to fulfill his needs. Another possible reason could be that he wanted to become rich by way of a shortcut without doing much hard work. He might as well, have been looking for funding for his start-up or for other research related work, and the failure to get the same might have forced him to resort to such illegal means.

Whatever might be the reason; a step taken wrong has put him behind bars and raised a big question on his future! Read Indian Startup News.

What caused young Startup CEO to indulge in fake printing of money ?
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