Fake currency racket busted, 2 held

Two persons were arrested for printing fake currency notes to be put into circulation during Sankranti for gambling and other purposes.

Published: 07th December 2017 02:23 AM  |   Last Updated: 07th December 2017 09:57 AM   |  A+A-

By Express News Service

RAJAMAHENDRAVARAM : Two persons were arrested for printing fake currency notes to be put into circulation during Sankranti for gambling and other purposes. The duo had also procured four fake gold biscuits to sell it to gullible villagers.Addressing the media at the police guest house here on Wednesday, Urban SP B Rajakumari said that acting on a tip-off, a police team led by Special Branch DSPs P Satyanarayana Rao and B Ramakrishna and AGS SI Sivaji conducted a raid in a house at Muralikonda area of Bommuru, Rajamahendravaram Rural. 

The police found that accused Tetali Siva Reddy and Kurmapu Umamaheswara Rao of Anaparti were printing fake currency notes by using a colour printer. The police seized fake currency worth `26.18 lakh, four fake gold biscuits, Espon colour printer, a scanner and two mobile phones,” the SP said. 

Rajakumari said that prime accused Tetali Sivareddy was into finance business and had incurred huge losses. He wanted to print fake currency notes and put them into circulation to wriggle out of losses. 
The SP said that Umamaheswara Rao procured four fake gold biscuits each weighing 3 kg from Bilaspur, Chhattisgarh, to sell the same in Agency areas. 

The brain behind entire operation
Prime accused Tetali Sivareddy was into finance business and had incurred huge losses
He wanted to print fake currency notes and put them into circulation to wriggle out of losses
Tetali Sivareddy’s marriage is scheduled for February 2018

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