The Freedom Press
Hyderabad, November 03: Future City Police have busted an alleged counterfeit currency printing racket and arrested four persons, seizing fake ₹500 notes with a face value of ₹6.78 crore, police said on Tuesday.
Addressing a press conference, Future City Commissioner of Police Dr. Tarun Joshi, IPS, said the accused were apprehended by Abdullapurmet Police and the Shadnagar Special Operations Team (SOT) after a car was intercepted near Ramoji Film City on National Highway 65 on November 1.
The arrested persons were identified as Madupoju Karnakar, Chinnolla Manikya Reddy, Cherukupelly Rathnakar Reddy and Karanam Ajay Kumar.
During the investigation, police allegedly uncovered a counterfeit currency printing unit operating from a rented house in Kuntloor. Printers, a laptop, currency-cutting machines and other equipment suspected to have been used in manufacturing fake notes were seized.
According to the Commissioner, the accused also allegedly impersonated police officers by using fake identity cards, walkie-talkies and a dummy pistol to threaten and cheat people.
The operation was conducted under the supervision of Commissioner Dr. Tarun Joshi, Maheshwaram DCP K. Narayana Reddy, IPS, and Ibrahimpatnam ACP K.P.V. Raju. Shadnagar SOT Inspector Bhupal Sridhar, Abdullapurmet Inspector Ch. Raju and their teams took part in the operation.
Police said further investigation was underway to identify other persons involved in the racket and establish the network through which the counterfeit currency was intended to be circulated.
