Hyderabad: Six arrested for printing fake currency including newly introduced Rs 2,000 notes

Police seized original notes to the tune of Rs 50,000 besides two photocopy machines

By: PTI | Hyderabad | Published:November 26, 2016 2:22 pm
fake currency, fake 2000 notes, fake currency racket, new notes fake currency, fake new notes, counterfeit currency, new currency counterfeit Photo for representational purpose. (File Photo)

Six members of a gang were arrested on Saturday on charge of printing Fake Indian Currency Notes (FICN) and conspiring to circulate the counterfeit notes including newly introduced Rs 2,000 notes.

Sleuths of Special Operation Team busted the racket by arresting six members of the gang from Ibrahimpatnam in Hyderabad and seized fake notes in denomination of Rs 2,000 among others, all with a face value of Rs 2,22,310, Rachakonda Police Commissioner Mahesh M Bhagwat said. Arrested accused Jamalapur Sainath, G Anjaiah, S Ramesh, C Satyanarayana, K Sridhar Goud, A Vijay Kumar besides Kalyan and Srikanth (both absconding) initially printed less number of fake notes of small denomination and were successful in circulating them in the market, he said.

“With the demonetisation of the Rs 500 and Rs 1,000 notes, the accused persons decided to print FICN of small denomination and circulate in the market. After the release of the new Rs 2000 note, they successfully printed it and were waiting for an opportunity to circulate in the market,” Bhagwat said.

“They were discussing on plans of circulating the fake notes in the market, when Rachakonda Police received credible information about their plans and raided the house of Ramesh at Ibrahimpatnam and took the accused persons into custody,” he said.

Police seized original notes to the tune of Rs 50,000 besides two photocopy machines, and fake notes in denomination of Rs 2,000 (105 notes), Rs 100 (102 notes), Rs 50 (105 notes), Rs 20 (117 notes) and Rs 10 (102 notes) all with a face value of Rs 2,22,310.

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  1. R
    Raj
    Nov 26, 2016 at 9:40 am
    Make demonetization annual (to enforce more bank transactions) and change each denomination of currency annually. So - once a year, a om note will go out of circulation (must be public knowledge) and one note will cease to be legal tender.lt;br/gt;lt;br/gt;They should learn from this demonetization experience and replicate the good bits - eventually, all illegal money thing will go south - eventually, they would not be able to catch up and cope!
    Reply
    1. A
      arun dass
      Nov 26, 2016 at 12:28 pm
      this mamata yy has cheated Rs 50,000 /- by a chit fund from my wife....bloody shameless woman
      Reply
      1. F
        frt
        Nov 26, 2016 at 12:55 pm
        Mamta's opening between her legs must be very smelly...like 3 day old rotting fish...thief of chit fund money.
        Reply
        1. H
          Hari Pillai
          Nov 26, 2016 at 9:44 am
          Why blame stan and external forces? When we have people who are willing to sell their own mother and motherland inside the country itself, where is the future of the country? lt;br/gt;lt;br/gt;Economic offenses must be treated as treason and dealt as such because it is so.
          Reply
          1. R
            Rehan
            Nov 26, 2016 at 12:58 pm
            This is such a shame! These guys should be hung!
            Reply
            1. I
              Indian
              Nov 26, 2016 at 10:52 am
              Court should hang them such that nobody dares to do it. But in India it is a criminals haven , they will be free and gets bail.
              Reply
              1. S
                Saratchandran
                Nov 27, 2016 at 12:31 am
                While it may be seen as a solution, it will remove the trust and confidence in one's own currency that 'promises to pay' a certain amount on presentation. This will creat distrust in the currency and the financial system of the country. That will be disastrous! What is required is to print hard to copy notes to stop counterfeits. Plastic notes with holograms and encrypted security features as in Australia is the way to go. Black money can only be curbed with better survilence in transaction areas and greater penalty for the wrongdoers! Tax department should given more teeth for investigation, freezing the funds and prosecution with more parellal courts created for dealing with the cases swiftly
                Reply
                1. A
                  ABC
                  Nov 26, 2016 at 10:21 am
                  Look at the names of the accused. All are so called Deshbhakts.
                  Reply
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