The Hindu : Front Page : Fake note racket busted in Suryapet

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Monday, Oct 01, 2007
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Fake note racket busted in Suryapet

Staff Reporter

Five persons arrested; counterfeit currency notes, printer seized

— Photo: R.Biksham Ruther

Prize catch: Nalgonda SP Vijay Kumar showing counterfeit currency notes recovered from a five-member gang at Suryapet on Sunday.

SURYAPET (NALGONDA Dt): The Suryapet police busted a major counterfeit currency racket here by arresting five persons belonging to Guntur and Nalgonda districts on Sunday. Fake currency notes of Rs.100 denomination worth Rs 12 lakh, a printer and machines used for the purpose were recovered from their hideout.

Superintendent of Police Vijay Kumar told reporters that a police team led by Circle Inspector M.Tirupatanna nabbed two persons at Manchikallu and Palvai of Rentachintala mandal in Guntur district on the basis of information provided by the three accused persons who had been detained during a vehicle checking exercise at Durajpally crossroads.

Hunt for kingpin

The arrested persons were Keshaboina Narayana (51) and Yerredi Srinivasa Reddy (38) of Palvai, Tenali Venkata Narapa Reddy (33) and Dharmaboina Venkataiah (47) of Manchikallu and Bukka Narasimha of Poolagudem of Peddavura mandal in Nalgonda district. Police launched a hunt to nab one of the key members of the gang Kasula Murali Krishna.

The SP also said that two other members of the gang -- Gummula Chandrasekhar (30) of Kurnool and Keshaboina Shekar (25) of Palvai -- are serving jail term at the district jail in Nalgonda. The gang reportedly circulated Rs.32,000 at Miryalaguda eight months ago before being caught by the police.

The CI said that Keshaboina Sekar and Gummula Chandrasekhar had met in Gurajala sub-jail in 1999 and hatched the plan to make easy money by printing and circulating the fake currency notes. However, the gang they had formed to implement the grand plan was busted by the Devarakonda police in 2002.

Late last year, Keshaboina Narayana and Kasula Murali Krishna again hatched a plan and roped in Yereddi Sreenivasa Reddy to implement their plan, the CI revealed.

The SP announced a cash reward of Rs.10,000 for the police team.

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