Hyderabad: A fake currency racket was busted by the Special Operations Team of the LB Nagar police on Tuesday and arrested 10 accused for printing Rs 2,000 and Rs 500 currency notes for circulating in the market as genuine ones. On a tip-off, the SOT team raided a house in Doctors Colony in Saroornagar of Ranga Reddy district and seized an HP colour printer, Canon scanner and screen Printing material, mobile phones and fake Indian currency notes valued at Rs ` 31,25,500from their possession.
Rachakonda Police Commissioner Mahesh M Bhagwat said the 10-member gang was printing fake currency notes of Rs 2,000 and Rs 500 denominations to circulate them in the market. Principal accused Eppanapalli Rajesh hatched a plan in connivance with his associates Roshan Mahaboob Shaik, Paladusu Dharani, Koppula Srinivas and others.
Earlier Eppanapalli Rajesh was involved in printing fake educational certificates and was arrested by the Kukatpally Police in Cyberabad Commissionerate. The Commissioner said Mohammad Baba and Md Shakeel, both butchers by profession, circulated the fake currency notes as genuine notes in cattle markets at Ibrahimpatnam, Choutuppal, Shadnagar, Nalgonda respectively.