Andhra Pradesh - Nalgonda   

Fake currency racket busted

By Our Staff Reporter

Krishna Swamy, ASP, and Madhusudan Reddy, Miryalaguda DSP, producing members of a counterfeit currency racket at a press conference in Nalgonda on Tuesday.

NALGONDA, DEC. 28. The Nalgonda district police busted a fake currency racket with the arrest of six persons on Tuesday.

Counterfeit currency of Rs.1.5 lakhs with denomination of 100s and a computer, scanner and printer were recovered from the accused, all of them hailing from West Godavari district.

The Additional Superintendent of Police, K. Krishna Swamy, produced the accused persons --Veligatla Sreenivasa Rao (34), Gangavarapu Padma Naidu (29), Yemidikonda Reddi Naidu alias Chinna (32), Pulakandam Praveen Kumar alias Jaya (31), Bakka Govindam (28) and Polisetti Vighneswar Rao alias Chanti (33) -- at a press conference.

The gang, which started printing fake hundred rupee notes in July, allegedly circulated them in Kovur, Veeravaasaram, Bhimavaram and Huzurnagar. Under the supervision of the Miryalaguda DSP, Madhusudan Reddy, and the Huzuarnagar CI, Krishnamurthy, a team led by Mogilaiah, SI, busted the racket.

The mastermind

Srinivasa Rao, son of a computer mechanic, was the brain behind the project. "Inspired by the reports on fake currency on TV channels and in newspapers, Srinivasa Rao roped in his friend, Padma Naidu, to print the counterfeit currency,'' Mr. Krishna Swamy said.

As their first attempt to print notes of 50 rupees denomination failed, they printed hundred rupees notes making good use of the latest technology.

The duo approached the other accused persons to circulate them. The racket was busted when the Huzurnagar police nabbed one Ramu for having a fake currency note. "The sixth accused and lorry driver, Vighneswar Rao, who is working in a transport office tried to circulate the note in Huzurnagar with the help of Ramu. However, an alert citizen informed the police,'' the DSP said.

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Fake currency racket busted

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