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Police arrests six people for printing fake currency in Hyderabad

Rachakonda police commissioner Mahesh Bhagwat said, “After demonetisation of Rs 500 and Rs 1,000 notes, the accused decided to first print fake notes of small denomination and circulate them in the market. After the RBI released the new Rs 2,000 note, they successfully printed it and were waiting for an opportunity to circulate them in the

Sakshi Chaturvedi

Sakshi ChaturvediBy Sakshi Chaturvedi

Published on 27 Nov 2016 9:39 AM GMT

Police arrests six people for printing fake currency in Hyderabad
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Hyderabad: Within a month after the Reserve Bank of India released new Rs 2000 denomination notes following the demonetisation of Rs 1,000 and Rs 500 (old) notes, Rachakonda police on Saturday arrested six persons for producing fake currency of Rs 2000, Rs 100 and other notes at Ibrahimpatnam area near Hyderabad.

The Police recovered Rs 2, 22,310 fake currency from the gang including Rs 2,10,000 in denomination of Rs 2000 and the remaining fake currency in small denominations of Rs 100, Rs 50, Rs 20 and Rs 10.

Two colour Xerox machines were also seized by the police.

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Rachakonda police commissioner Mahesh Bhagwat said, “After demonetisation of Rs 500 and Rs 1,000 notes, the accused decided to first print fake notes of small denomination and circulate them in the market. After the RBI released the new Rs 2,000 note, they successfully printed it and were waiting for an opportunity to circulate them in the market."

The gang members who were nabbed by the police were:

  • K Sainath alias Babu, a butcher by profession who was also the mastermind of the plan
  • Farmer G Anjaiah
  • Businessman S Ramesh
  • Private employee C Satyanarayana
  • Mechanic K Sridhar Goud
  • Sales executive Vijay Kumar.
  • Two more suspects Kalyan and Srikanth were absconding.

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The investigation is underway, police said.

Sakshi Chaturvedi

Sakshi Chaturvedi

A journalist, presently working as a Sub-Editor at newstrack.com.

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