Here is how police blew the lid off major fake currency racket in Nagole

On June 15, astrologer Bellamkonda Muralikrishna Sarma had lodged a complaint of theft of precious stones and cash from his Nagole residence. When police investigated the case, they found that he was a high-profile counterfeit currency peddler.

By Newsmeter Network  Published on  24 Jun 2021 3:40 AM GMT
Here is how police blew the lid off major fake currency racket in Nagole

Hyderabad: A random investigation into a theft case helped police to blow the lid off a major fake currency racket in Ngole.

Police have recovered fake Indian currency with a face value of Rs 17.72 crore from a house of an astrologer at Nagole. Seven people including an astrologer have so far been arrested.

On June 15, astrologer Bellamkonda Muralikrishna Sarma had lodged a complaint of theft of precious stones and cash from his Nagole residence. When police investigated the case, they found that he was a high-profile counterfeit currency peddler.

Police seized Rs.17.72 crore of Rs.2000 denomination, Rs.6.32 lakh of other denomination, 10 mobile phones, and a car from the possession of the accused. They also arrested six other accused in the case.

The accused were identified as Velpuri Pawan Kumar (28), a mobile phone technician, Dondapati Rama Krishna (24), a driver by profession, Nallabothula Suresh Gopi (25), a businessman, Chanduluri Vijay Kumar (27), a priest, Kambhampati Suryam (25), an auto driver, Chanduluri Nagendra Prasad Sharma (32), a private employee, and Bellamkonda Murali Krishna Sharma (35), an astrologer and businessman who deals in precious and semi­precious stones. All the accused are from Andhra Pradesh.

Police said that Nagendra Prasad and Murali Krishna were relatives. Prasad had invited Pawan to Hyderabad so that he could work with Murali Krishna. Pawan later found currency notes with a face value of Rs 12 crore stuffed in bags and thought it was genuine.

He informed Nagender Prasad of his intention to steal the cash. Police said on June 14, Pawan, Rama Krishna, Gopi, Vijay Kumar Suryam, Nagendra, and Sharma reached Piduguralla. They hired a four-wheeler and after reaching Wadapally check post, Pawan replaced the original number plate with fake and reached Murali Krishna's house.

Rama Krishna and Gopi entered the house and stole two bags. According to police, once they crossed Choutuppal, they opened bags and found fake currency of Rs 2,000 denomination. Only 16 Rs 2,000 currency notes were found to be genuine. They later torched fake currency and fled.

Meanwhile, cops, who were investigating Sarma's complaint, zeroed in on Velpuri Pawan Kumar at Piduguralla in Guntur district.

After interrogating him, police arrested the five others and came to know about fake currency. Police then arrested Sarma for peddling counterfeit currency.

Interrogation revealed that Sarma was also involved in an attempt to transfer Rs 90 crore fake currency through a bank to an institution in Visakhapatnam from Mangalagiri in Guntur district. But bank officials, who suspected foul play stopped the transaction, handed over the investigation to the CBI. Sarma, after obtaining bail, resumed his gemstone business.

While interrogating Sarma, police came to know that he would tell clients that the precious stones had helped him earn riches. He used to flaunt fake currency to trick them into believing him. Police then searched Sarma's house and flushed out fake currency with a face value of Rs 17.72 crore.

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