Rachakonda Police seized fake currency with face value of Rs. 17.72 cr

Hyderabad, June 23: Rachakonda Police on Wednesday arrested a gang involved in the circulation of fake currency notes and seized Rs. 17.72 crores of fake notes of Rs.2000 denomination.

Upon receiving credible information on Wednesday, the sleuths of CCS LB Nagar along with LB Nagar Police of Rachakonda Police Commissionerate jointly apprehended seven accused persons at GSI Bandlaguda, Nagole here. The Police also seized net cases of Rs. 6,32,000, one Etios car, and ten mobile phones from their possession, all worth Rs. 13,82,000.

The seven accused have been identified as Pawan Kumar, Rama Krishna, Suresh Gopi, Vijay Kumar, Kambhampati Surya, Nagendra Prasad Sharma, and Murali Krishna Sharma.

The police received a complaint from one an astrologer Murali Krishna on June 15. In his complaint he told the police that gems worth  Rs. 40 lakh were stolen from his house.

The inquiry by the police found that Murali Krishna was the prime accused behind the fake currency notes circulation scam. Murali Krishna had gone to jail in an Rs. 90 crore hawala scam in the past.

On June 15 at about 10 am, accused Pavan pasted a fake number sticker on the original number of the car and went to Murali Krishna’s house with other accused(s), opened the bedroom lock with a cutter, and committed theft of two trolley bags and fled the spot. 

They crossed Choutuppal and opened the bag and saw there are no gems or diamonds and found all fake 2000 note bundles except (16) 2000 original notes kept on the top of each bundle.

The investigation was conducted under the direction of Rachakonda Police Commissioner Mahesh M Bhagwat, IPS, Rachakonda Addl. Commissioner of Police G Sudheer Babu, IPS.

Commissioner Mahesh Bhagwat appreciated CCS LB Nagar team for early detection and said that the CCS LB Nagar team and LB Nagar Crime team has shown very good professionalism.

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