Hyderabad, February 4: Two people have been apprehended for allegedly printing fake Indian currency notes and circulating them in Hyderabad. Fake money worth over Rs 4 lakh was recovered from the duo, police said on Sunday. According to police inspector Anjaneyulu, the prime accused, Vanam Laxminarayana, with computer expertise, allegedly used a screen printer, green foil paper, JK Excel bond papers, cutters, and a lamination machine to pull off the crime. After being inspired by 'Farzi' web series, he decided to print fake notes and circulate them in the market. Delhi Fake Currency Racket Busted: Three Arrested for Running Web Series Farzi-Like Racket, Accused Circulated Rs Five Crore in Five Years, Say Police
His alleged accomplice, Erukala Pranay Kumar, was caught testing fake money at a fruit and vegetable market with Rs 20,000 in fake currency. "We have seized 810 fake currency notes in the Rs 500 denomination that were intended to be circulated. Printers, Scanner and other things were also seized," police said. Uttar Pradesh Fake Currency Racket Busted: UP ATS Arrests Two for Running International Currency Racket
Police Busted a Counterfeit Currency Circulating Racket in Hyderabad
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Anjaneyulu, Police Inspector of Allapur Police Station said, "The prime accused is Laxminarayana. We have seized 810 fake Rs… pic.twitter.com/8GdyfQkZwP
— ANI (@ANI) February 4, 2024
During the investigation, it was revealed that Laxminarayana, previously involved in a mortgage fraud, involved Kumar in the crime, promising a share of the profits. Both accused are now in the Hyderabad Police's custody.
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