Two degree students from Narsaraopet of Guntur district were arrested along with six others by the Cyberabad police on Monday allegedly for making and circulating counterfeit currency notes.
T. Kranthi Kumar and K. Pavan Kumar, both aged about 21 years and B.Sc. second year students from Guntur, purchased a photocopying machine with colour printer and monitor. They began making currency notes of Rs.500 denomination using these machines, the Dundigal Inspector V. Bhaskar said.
The duo approached B. Naga Murali of Nandigama in Krishna district, who in turn, supplied the fake currency notes to J. Srinivasa Rao and Noor-ul-Haq. Through them, A. Pandari and Durga Reddy, who have fabrication company at Suraram, received the fake notes.
Pandari gave four notes of Rs.500 denomination to one of his workers Brahmachari, who was caught while trying to circulate them. Based on his confession, the Dundigal police busted the gang. Counterfeit currency notes having face value of Rs.23,500 were seized from them.