2,000 Rupee Counterfeit Currency Racket Busted

Attempts at producing counterfeit Rs. 2,000 notes have already begun, falling on the face of several claims that the new notes were foolproof. One such attempt was foiled by the Hyderabad Police today at Ibrahimpatnam.

According to the police, a gang of eight members was involved in printing the fake currency notes of various denominations. The gang also printed fake 2,000 rupee notes and were waiting to circulate them in the market. However the plan boomeranged and the sleuths of the Rachakonda Police Commissionerate busted the racket.

Rachakonda Police Commissioner Mahesh Bhagwat said that six members of the gang - Jamalpur Sainath (the mastermind), Gotte Anjaiah, Sakethwala Ramesh, Chikoti Satyanarayana, K Sridhar Goud and A Vijaya Kumar - were arrested while two others - Kalyan and Srikanth - were absconding. A manhunt has been launched to nab them.

The gang in the beginning printed bills of smaller denominations and succeeded in circulating them in the market. After the demonetization of the 500 and 1,000 rupee notes, the gang decided to make a quick buck by faking the new Rs. 2,000 note. Upon receiving information from Intelligence sources, the police raided their base in Ibrahimpatnam and crushed the racket.

The Commissioner said that counterfeit currency to the tune of over Rs. 2.23 lakhs, two colour Xerox machines, and Rs. 50,000 cash besides incriminating documents were recovered from them.

The police recovered original cash to the tune of Rs. 50,000 besides fake currency notes of Rs. 10, 20, 50, 100 and 2,000 denominations.

The raids were conducted by Inspector M Kasi Vishwanath assisted by a Sub-Inspector and other officers of Rachakonda PS under the supervision of Commissioner Mahesh Bhagwat.