Hyderabad: A fake note printing racket of five members has been busted on Thursday, and counterfeit currency about worth Rs 16 lakh alongside other incriminating material has been seized from the accused.
According to the police, the five accused namely, Chukkapuram Santosh Kumar, Janaki Sai Kumar, Dharmaji Neeraj Kumar, and Jaligam Raju and Sunkari Srinivas were allegedly involved in printing and circulating fake Indian currency notes.
The seized fake currency include 1400 notes of Rs 500, 1800 partial notes of Rs 500 and 50 partial fake notes of Rs 200. A scanner/printer and a Dell laptop alongside other “incriminating material” has also been seized from the accused.
Two of the accused who are photographers needed money and decided to use their Photoshop skills to prepare counterfeit Indian currency and circulate it on the ratio of 1:3.
The police said that the two initiator accused then involved other accused to work with them in the plan on 10% amount as commission. The accused then acquired a Dell Laptop, a canon printer/scanner, and other material from different places in Siddipet.
The gang rented a room at Siddipet and kept all the items in there and started making counterfeit currency.
According to the police, they stuck the original currency notes’ front side and backside on white paper, and stitched the green color strips into the currency notes to looking like original currency notes. Further they scanned the notes and print them out through the scanner/printer by using similar original currency colors before cutting the notes into sizes similar to the original ones.
After hoarding enough stashes, the accused then started circulating the fake currency in different areas on the ratio 1:3.
On Thursday when the gang came near Yusufguda check post with the fake currency notes worth 9 lakh, to handover them to a customer on the 1:3 ratio, in the meantime, somebody snitched and got the accused arrested by the West Zone Task Force team.