BHAVNAGAR, May 21: Bhuraj Marwari, a 20-year-old "millionaire", holder of a ``million dollar note'', a member of ``the International Association of Millionaires'', and now a jail inmate, is still trying to figure out what hit him.

A couple of donkeys and a family of nine. That's all the poor worker had when he migrated from Rajasthan five years ago. Till he met ``one Trivedi''. Says Marwari: ``He told me to keep this (the million dollar note) instead of the Rs 15,000 that he owed me. He said this note would fetch me thrice as much.''

Marwari had just become another victim of the alleged currency racket rampant in Bhavnagar.

On Tuesday noon, he surrendered at the office of the Deputy Superintendent of Police (DSP) here, scared the authorities were coming for him after the arrest of four people in connection with the racket on May 15. The police, the worker was convinced, were picking up anyone possessing foreign currency. ``I don't know what is going on,'' pleads Marwari.

Neither do many others. The million dollar note that Marwari handed over to the police comes with elite credentials. The accompanying ``authentication certificate'', printed on an elaborately designed card paper, reads thus:``This official document certifies that the accompanying MILLION DOLLAR BILL is the authentic, original and genuine million dollar bill designed and printed by the American Bank Note Company in 1988 for the International Association of Millionaires (IAM).''

It reads on: the currency note bears ``six latent images'', ``three micro-print inscriptions'' and a ``four-colour fluorescent hi-lite security paper and invisible ink printing on both sides''.

Impressed? Read further. The note says: ``This unique MILLION DOLLAR BILL is from a Limited Edition of Bills that were printed in serial number sequence and officially issued by the IAM as Collector Series 1988 II.''

The certificate ends with the attestations of the ``international treasurer, IAM" and one C W Aurand Jr, president, American Bank Note Company.

Not surprisingly, the police are discovering that many powerful people are behind the racket. The four people besides Marwari in police custody -- their remand lasts till May 27 -- have confessed to this and revealed that the racket is based in Mumbai.

Many such allegedly fake dollar bills are reported to be in circulation in Bhavnagar and nearby towns.

One of the kingpins who is said to have started the million dollar rush is Mumbai-based Chhotubhai Trivedi (the same one whom Marwari named). He allegedly first began printing counterfeit notes and selling them in the market.

Considering the intricate ``covering note'', the police -- which have been investigating the case for more than a month now have not yet been able to say if the notes are genuine or fake. DSP Subhash Trivedi is planning to seek expert help now.

The officer, who along with police inspector Mahavir Sarvaiya, busted the racket, is determined to get to its roots. The police, he says, will go to Mumbai if that were necessary. ``It is a big scandal which can disrupt the entire economy of the nation,'' the DSP fumes.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.