The Hindu : Andhra Pradesh News : Counterfeit currency gang busted

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Tuesday, Nov 27, 2007
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Andhra Pradesh

Andhra Pradesh

Counterfeit currency gang busted

Staff Reporter

Of the seven accused, five are from Vizag district and two from Nellore

Colour printer and laptop recovered from their possession
They were said to be giving fake notes for original ones in 3:1 ratio

Smart operation: Police Commissioner N. Sambasiva Rao displaying the fake currency notes at a media conference in the city on Monday.

VISAKHAPATNAM: In a major breakthrough the city police arrested a seven-member gang that was allegedly involved in the printing and circulation of counterfeit currency notes.

Disclosing this information to the media here on Monday, Police Commissioner Nanduri Sambasiva Rao said that of the seven accused, five were from the district while two were from Nellore. Based on information provided by a former offender, Y. Nageswara Rao, a scooter mechanic, and M. Koteswara Rao, a hotel vendor (both from the city), were arrested when they were in possession of fake currency worth Rs.1.2 lakhs.

They confessed that the notes were supplied by P. Nageswara Rao of Anakapalle and K. Sivaram Prasad of Sabbavaram mandal.

These two were arrested at Anakapalle while they were in possession of counterfeit notes of Rs.30,000. A colour printer, laptop, scanned registered documents of the Gopalapatnam Sub Registrar Office (fake) were also seized from the house of Sivaram Prasad, who holds a diploma in computer hardware.

Nageswara Rao and Sivaram Prasad confessed that E. Subba Rao and his daughter E. Haritha of Nellore were also involved in the production of fake notes.

These two, who were temporarily staying at the house of Y. Sundara Rao of Anakapalle, were also arrested.

Haritha, who had completed B.Com (computers) and has knowledge of Photo-Shop and DTP, is presently pursuing her M.Com (previous) and ICWAI in Nellore. The police seized fake notes of Rs.4.19 lakhs from their possession.

Mr. Sambasiva Rao said that some more persons were suspected to be involved in the case. Further investigation would be done to find out who were procuring the fake notes. Accused in this case Y. Nageswara Rao was already involved in two fake currency cases in the past while Sivaram Prasad in one case. The accused are also into the production of empty non-judicial stamp papers having fake Sub Registrar Office seals.

The accused were said to be giving fake notes of Rs.3 lakhs for original notes of Rs.1 lakh (3:1 ratio).

The accused were taken into custody by Gajuwaka CI P. Ravi Varma, SI’ s R.V.R.K. Chowdruty (Crime), S. Ramakrishna(L & O), Head Constables D. Suri Babu and N. Tatabbai, constables N. Murali, Yaseen Baba, V. Venkata Rao, K.V. Satyanarayana Murthy, D. Sreenivasa Raju, G. Suryanarayana, M. Sreenivsa Rao and Ram Prasad.

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