The Peddapuram police on Tuesday busted a five-member gang including a doctor and two engineering graduates that was allegedly involved in making and circulation of counterfeit currency notes. Counterfeit bills with a face value ₹ 68,500 and the equipment used for preparing those were seized.
According to police, among the accused Bhusala Ravi Teja (24) from Samalkot was nabbed when he was circulating the counterfeit notes in ₹500 denominations near Darga Centre in Peddapuram on Monday evening.
He was taken into custody and during the interrogation he spilled the beans. Basing on the information provided by him, the police arrested Kovvuri Vinod Santosh Reddy, 34, a graduate in medicine from China and his friend Vasantada Dinesh, 27, from a rented accomodation at Sasikanth Nagar on Tuesday.
Notes circulated from Vizag
The police found that the counterfeit notes were circulated from Visakhapatnam and sent a special team to trace Varadhi Rajasekhar, 32, an engineering graduate and an accused in his mother’s murder case, from Old Gajuwaka and Sheik Aleem, 25, a mechanical engineer and an accused in rape case, from Kurmannapalem. The police also recovered the equipment from Rajasekhar’s house. The gang would print fake currency notes in the denominations of ₹2,000, ₹500 and ₹ 200, the police said. A case has been registered and investigation is on.
