Kadapa: The Kadapa police on Saturday busted a fake currency racket and seized fake currency worth Rs 7.28 lakh and 9 kgs of Sheelavathi variety dry ganja from a lodge here.
Acting on a tip-off, Kadapa police carried out a surprise raid at the lodge and nabbed the five-member gang for printing fake currency and circulating them in parts of Andhra Pradesh.
Superintendent of Police, Kadapa, KKN Anburajan said that among the five arrested, two are Cameroon nationals, two from Visakhapatnam and the fifth is a local resident.
The preliminary investigation into the case has revealed that the fake currency racket has been pushing Rs 500 and Rs 2000 denomination notes at select markets in the State, targeting the gullible to convert their fake currency into legal tender.
The Kadapa police chief said that there is some difference in the paper quality of the original and the fake currency. The gang used to insert the fake notes with the genuine notes to exchange the fake currency.
"We have seized one printer, laptop and few other materials from the gang. We also seized 9 kgs of dry ganja from the gang," he added.
Sources said that the gang has been transporting ganja from Vizag Agency to Hyderabad, Bengaluru, Chennai and other cities, where one kg of dry ganja sells for Rs 50,000.