VIJAYAWADA: The city police on Thursday busted a three-member gang that was circulating fake currency and recovered counterfeit notes of Rs. 6,61 lakh from it. Following a tip-off, the Krishnalanka police caught Sheik Mohammad Ali, 25, of One-Town, when he was allegedly trying to make a payment at Vijayakrishna food stall on the premises of Pandit Nehru Bus Station by offering a counterfeit note of Rs. 500. During the questioning, the police found that two members of the same gang were staying in Vijaya dormitory on the bus station premises and took them into custody. The police seized fake currency of Rs. 55,700 from Mohammad Ali, Rs. 3 lakh from one Bheemapu Srinivasa Rao, 32, of old Gajuvaka in Visakhapatnam and Rs. 3,05,000 from Bonula Srinivas, 29, of Gangada village near Vizianagaram. The police found Rs. 500 and Rs. 100 notes, which were made with the help of a computer scanner.
After questioning the accused, the police found that one Bhamidipati Sriram Kumar, 30, of Tanuku in West Godavari district, an accused in three cases of counterfeit currency, was the kingpin of the gang. The police suspected the involvement of one Subash Jain, 25, a jewellery merchant from Mumbai and one Mayur, 20, a cloth merchant from Madurai, in the offence.