The Hindu : Andhra Pradesh News : Fake currency racket busted in Andhra Pradesh

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Monday, Oct 01, 2007
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Andhra Pradesh

Andhra Pradesh

Fake currency racket busted in Andhra Pradesh

Staff Reporter

Five held; counterfeit notes, printer seized in Suryapet

SURYAPET (NALGONDA Dt): The Suryapet police busted a major counterfeit currency racket here, arresting five persons belonging to Guntur and Nalgonda districts on Sunday.

Fake currency notes in the denomination of Rs. 100, worth Rs. 12 lakh, a printer and machines were recovered from their hideout.

Superintendent of Police Vijay Kumar told reporters that a 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 who had been detained during a vehicle check at the Durajpally crossroad.

Hunt for kingpin

The arrested 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 said two other members—Gummula Chandrasekhar (30) of Kurnool and Keshaboina Shekar (25) of Palvai—were serving a term in the district jail at Nalgonda.

The gang 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 the Gurajala sub-jail in 1999 and hatched a plan to make easy money by printing and circulating fake currency notes. However, the gang they had formed to implement the plan was busted by the Devarakonda police in 2002. Late last year, Keshaboina Narayana and Kasula Murali Krishna hatched a plan and roped in Yereddi Sreenivasa Reddy to implement their plan.

Pat for police team

The SP congratulated the police team for detecting the case. He announced a cash reward of Rs. 10,000 for the team members.

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