The Hindu : Andhra Pradesh News : Police bust fake currency racket

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Friday, Jul 09, 2004

Andhra Pradesh

Andhra Pradesh

Police bust fake currency racket

By Our Staff Reporter

VISAKHAPATNAM, JULY 8. The city police unearthed a fake currency racket on Thursday and arrested five persons for their involvement in procuring photocopies of currency notes from Hyderabad and selling them in the city to prospective clients through a network of agents.

Notes of Rs. 50 and Rs. 100 denomination amounting to Rs. 20,000 along with a briefcase and four handbags were seized from the accused -- Kollipaka Rama Rao, Patti Venugopala Rao, Mathamsetty Suryanarayana, Mohammed Bukari and Merugu Raja Ramesh -- after a series of raids. All of them were arrested under Section 489 (B and C) and 420 of the Indian Penal Code.

The racket came to light on receipt of a complaint from Arji Prasada Rao of Deepthi Bar and Restaurant in Old Town on Wednesday that Kollipaka Rama Rao had offered him a fake Rs. 100 note to pay for liquor.

The modus operandi of the gang was simple. They would woo gullible youth with the promise of helping them to make a fast buck without much investment. On payment of Rs. 3,000 (original), the gang would promise to offer fake notes amounting to Rs. 10,000 in a handbag.

The accused would show the youngsters some fake and original notes on one side of a twin-opening briefcase and con them by presenting them another handbag with bundles of blank papers sandwiched between a few fake notes. They would then flee on their bikes.

The Commissioner of Police, B. Prasada Rao, told reporters that during interrogation, the accused confessed that they were getting the fake notes generated from a colour xerox machine with identical numbers from one Ravi Raj of Hyderabad on a loan basis.

A special team has been deputed to Hyderabad for further investigation, Mr. Prasada Rao said after presenting cash awards to the I Town SI, S.K. Vivekananda, and other policemen who nabbed the members of the gang.

The case is being investigated by the Circle-II Inspector, P. Srinivasa Rao under the supervision of the ACP (north), B. Mahender Reddy.

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