TIRUPATI: Chittoor police busted a counterfeit currency racket on Wednesday. After getting reliable information, the Special Investigation Team (SIT) led by Kuppam (Rural) CI MR Krishna Mohan and Ramakuppam SI G Prasada Rao, visited Vijalapuram village and picked up K Manigandan and K Kubendran at a shop. The team seized counterfeit currency worth Rs 98,000 from the duo.
During interrogation, the team learnt that another four people were involved in the racket. The police conducted a raid on the house of Anant Kumar at Samaguttapalli village in Kuppam mandal and found that he along with M Suresh Kumar, B Hemanth and Devireddy Suresh Reddy, was printing fake currency.
The police took them into custody and seized fake currency worth Rs 2,76,22,000, two laptops, three computers, two printers and printing machinery. A huge number of demonetised currency notes of Rs 1,000 denomination were also seized from them.
The accused Manigandan (28), Kubendran (50), and Suresh Kumar (23) hail from Tamil Nadu, while Suresh Reddy (31), B Hemanth (26) and Anant Kumar (33) belong to Chittoor. All the arrested were remanded.
Addressing the media in Chittoor, District Superintendent of Police Ch Venkata Appala Naidu said that Manigandan is the main accused in the racket. The SIT busted the counterfeit currency racket before it started circulating the notes. He said that the notes were printed in such a way to appear that they were printed in Pakistan and Bangladesh.
He observed that the circulation of fake notes will have severe impact on the country’s economy as the culprits always target petty shops to exchange notes. The SP warned that they will book persons who are involved in crime under Unlawful Activities (Prevention) Act.