Hyderabad: Future City police busted a counterfeit currency racket and arrested four people, seizing fake currency notes amounting to Rs 6.7 crore in the Rs 500 denomination.
Abdullapurmet police, along with the Shadnagar Special Operations Team (SOT), intercepted a car near Ramoji Film City on NH-65 on Nov 1. They arrested four occupants: M Karunakar, Ch Manikya Reddy, Ch Ratnakar Reddy and K Ajay Kumar, and seized counterfeit currency amounting to Rs 8 lakh from them. Police raided the premises and seized printers, a laptop, currency-cutting machines and other equipment, besides bundles of fake notes amounting to Rs 6.7 crore.
During interrogation, the accused revealed that they had set up a counterfeit currency printing unit in a rented house at Kuntloor.
Future City police commissioner Tarun Joshi said the accused also posed as police officers using fake identity cards, walkie-talkies and a dummy pistol. They allegedly used these to intimidate potential buyers who changed their minds at the last minute about purchasing the fake currency. The accused were booked by Abdullapurmet police under relevant sections of the BNS. Further investigation is under way to identify others involved in the racket.
They were produced before a court on Monday and remanded in judicial custody.