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Fake currency racket unearthed; nine held

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For all to see: Commissioner of Police N. Achutha Rao (centre) displaying recovered fake currency at the Bangalore City Police Commissioner’s office in Bangalore on Friday.
For all to see: Commissioner of Police N. Achutha Rao (centre) displaying recovered fake currency at the Bangalore City Police Commissioner’s office in Bangalore on Friday.

Staff Reporter

Two of the accused are gold medallists in printing technology

Printing material worth Rs. 1 crore seized

Accused were printing fake notes of Rs. 50 and Rs. 100 denomination

Bangalore: The Central Crime Branch (CCB) police on Thursday unearthed a fake currency printing racket and arrested a gang of nine persons in this regard.

The Organised Crime Wing of the CCB seized printing materials worth Rs. 1 crore from the accused.

Suspects

Addressing presspersons here on Friday, Gopal B. Hosur, Joint Commissioner of Police (Crime), said that the police, on a tip-off, raided Miracle Graphics in Seshadripuram and made the arrest.

The police named the suspects as G. Shivakumar (48), G. Nagendra Prasad (50), S. Narasimha Murthy (63), M. Akbar Ali (54), V. Shivakumar (34), Abdul Ghouse (37), V. Nagaraju (45), Ramesh Kumar Jain (39) and R. Babu (47).

While Nagaraju is from Kolar Gold Fields, Babu is from Ambur village, Vellore district in Tamil Nadu.

The others are from the city.

Mr. Hosur said that Shivashankar and Nagendra Prasad were brothers. They were diploma holders and gold medallists in printing technology.

Losses

The siblings were running a printing press called Nataraja Printers in Seshadripuram. “They incurred losses and contacted Narasimha Murthy, who owned a jewellery shop, and borrowed money from him.

They were not able to repay the sum. Meanwhile, even Narasimha Murthy incurred losses in business,” he said.

Then, the three decided to make easy money by printing fake currency, Mr. Hosur said. They reportedly began looking for people who knew how to print fake currency. They sought the assistance of Ramesh Kumar Jain and Akbar Ali. They later got in touch with Shivakumar, Abdul Ghouse and Babu, who had been in the “business” for a while.

Fake notes

At Miracle Graphics, the accused started printing fake currency of Rs. 50 and Rs. 100 denomination. “The fake notes were distributed in Bangalore and in some parts of Tamil Nadu. Investigation revealed that the accused were printing fake notes for the past one-and-half years,” he said.

Mr. Hosur said that the last batch that the accused printed did not come out well. “The accused were researching how to improve the quality and print better fake notes. While they were distributing the fake notes earlier, the Halasoor police had arrested their associate Shankar. Babu had escaped,” he said.

Mr. Hosur said the case would be handed over to the CoD.

The CCB seized printing machines, printing plates, printing materials, including paper and ink, computers, hard disks etc, worth Rs. 1 crore.

They also seized fake currency. N. Achutha Rao, Commissioner of Police, and N.D. Mulla, Deputy Commissioner of Police (Crime), were present on the occasion.

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