Andhra Pradesh - Hyderabad   

Fake currency racket busted

Staff Reporter

Degree student and his three associates held, two other members at large

NOT WITH A PIE: A sheaf of fake currency notes recovered by the Cyberabad police on Friday. - Photo: P.V. Sivakumar

HYDERABAD: Desperate to meet the medical expenses of his ailing younger sister, a degree student allegedly resorted to printing and circulation of counterfeit currency notes.

The Jeedimetla police of Cyberabad on Friday arrested D. Sudheer, a native of Amalapuram. Three of his associates - K. Ramesh, 37, Manohar, 42, and S. Ch. Srinivasa Chary, 36, were also held on the charge of aiding and abetting him in the crime. Two other members of the gang - Venu and Sreenu - were at large.

Sudhir's family owned a screen-printing shop. Residing at Suraram Colony of Jeedimetla, he ventured into tender coconut business.

As his sister fell sick, he took loans from several people for her treatment and was neck-deep in debts.

He happened to meet Venu, also from Amalapuram, who was an agent of fake currency racket being operated allegedly by one Shaik Buday Saheb of Bhadrachalam in Khammam district, Jeedimetla Inspector B. Srinivas Reddy said.

The duo formed a gang and managed to circulate fake currency notes at Jeedimetla vegetable market, local slums and wine shops.

The gang confessed to the police that they used to print only 100 and 500 denominations as they can be easily circulated.

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