Telangana police have busted a massive counterfeit currency racket operating out of a rented house on the outskirts of Hyderabad, arresting four people and seizing fake currency notes with a staggering face value of Rs 6.78 crore.
Telangana police have busted a massive counterfeit currency racket operating out of a rented house on the outskirts of Hyderabad, arresting four people and seizing fake currency notes with a staggering face value of Rs 6.78 crore. The prime accused allegedly learnt printing fake currency by watching YouTube tutorials and browsing other social media content.
The racket came to light on November 1 when the Abdullapurmet police, in coordination with the Shadnagar Special Operations Team (SOT), intercepted a car near Ramoji Film City on National Highway 65. A search of the vehicle led to the recovery of counterfeit Rs 500 notes worth Rs 8 lakh, following which all four occupants were arrested.
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Further investigation led the police to a rented house in Kuntloor, on the outskirts of Hyderabad, where the accused had allegedly set up an elaborate counterfeit currency printing unit. Officers recovered another 134 bundles of fake Rs 500 notes, estimated to be worth approximately Rs 6.70 crore, from the premises.
The police also seized a range of equipment allegedly used in the operation, including printers, scanners, a laptop, a lamination machine and specialised tools for cutting currency notes.
YOUTUBE TUTORIALS HELPED ACCUSED LEARN FAKE NOTE PRINTING
Future City Commissioner of Police Dr Tarun Joshi said the prime accused, identified as Madupoju Karnakar, allegedly learnt the process of manufacturing counterfeit currency by watching YouTube videos and other content available on social media.
Karnakar allegedly scanned genuine Rs 500 notes and used image-editing software, including Photoshop, to manipulate the images before printing counterfeit versions.
The gang initially planned to circulate the fake notes by offering Rs 3-4 lakh in counterfeit currency in exchange for every Rs 1 lakh in genuine cash. However, after failing to attract potential buyers through this arrangement, the accused allegedly came up with a more sinister plan to dupe unsuspecting customers.
POSED AS POLICE OFFICERS TO LOOT GENUINE MONEY
During the investigation, police uncovered how the gang allegedly combined counterfeit currency with an elaborate impersonation scheme to cheat prospective buyers.
The accused would first display genuine currency notes to convince customers that the deal was legitimate. Once they gained their confidence, they allegedly posed as police personnel using fake identity cards, walkie-talkies, imitation pistols and vehicles fitted with fake number plates.
The gang would then intimidate the prospective buyers by pretending to be law enforcement officers and escape with their genuine cash, police said.
The accused allegedly cheated two prospective customers of Rs 2 lakh and Rs 3 lakh in separate incidents.
The four arrested accused have been identified as Madupoju Karnakar, Chinnolla Manikya Reddy, Cherukupelly Rathnakar Reddy and Karanam Ajay Kumar. Meanwhile, three other accused remain absconding, and police teams are working to track them down.
