Hyderabad: The Rachakonda police busted a fake currency racket and arrested three persons on 14 September. They seized Rs. 10 lakh in fake currency notes.
Following a tip-off, the sleuths of SOT, Malkajgiri zone, apprehended the gang involved in printing fake Rs. 500 currency notes. A printer-cum-scanner and three mobile phones were also seized from the three who have been identified as Karam Nagendraprasad (30), Bandari Goutham (29), and Tubbakula Naresh (25).
The three men, all residents of Sangareddy, had earlier been arrested by the Hyderabad police.
The three men procured a printer-cum-scanner with the intention to print fake currency notes and circulate them in the market. They scanned an original Rs. 500 note, printed several copies of the same, and cut them into the exact size of the original currency note.
The gang members then delivered the fake notes to their agents who in turn supplied them to their source after taking a commission. The fake currency notes were mixed with genuine notes and circulated, mostly during the night, in crowded places to cheat the vendors.