The Subramanyapura police on Thursday unearthed an inter-State fake currency racket and arrested four people allegedly running it for the last one month.
P. Krishna Kanth, DCP south division, said that prime accused, identified as Raju from Ananthpur in Andhra Pradesh, is a high school dropout who learnt the art of printing fake currency by watching videos on social media.
The accused worked for six months to master the skill and printed ₹500 denomination notes so perfect with water marks and security features that they looked genuine. Even the quality of paper used by the accused nearly matches with the genuine currency notes, Mr. Krishna Kanth said.
The scam was busted when based on a tip-off, a team of police led by PSI Raghu Naik, caught Charan Singh B., 47, and his relative Rajaputha Rajni, 38, who were trying to circulate the currency notes in a car.
The police recovered ₹4 lakh worth eight bundles of currency notes. The accused would move around the city to push the fake currency into the market at busy markets, restaurants and petrol pumps, movie theatres and malls.
Based on their information, the police raided the house in Ananthpura where Raju and his assistant Gopi were printing the notes. The police seized ₹6.25 lakh worth currency notes of ₹500 denomination from them.
The accused confessed that they have circulated fake currency in different places including Hyderabad and Bengaluru. The accused said to have circulated the currency in other cities too which is being probed, Mr. Krishna Kanth said.