The Manali New Town police on Tuesday arrested a gang of six who allegedly printed counterfeit currencies and planned to circulate them.
Following a secret information, the Avadi Police Commissioner Sandeep Rai Rathore, formed a special team. They searched a house in Manali New Town and found six persons — J.Yuvraj, 37, of Manali Puthunagar, V. Prabhakaran, 33, of Mannivakkam, V Imtiaz, 24, of Old Washermenpet, John Joseph, 31, of Thangal, Thiruvottiyur, A. Rasul Khan, 38, of Vyasarpadi and Mubarak, 46, of Redhills. They tried to escape on seeing the police.
They were secured by the special team and during the search operation in the said house, three printers, counterfeit currency notes in the face value of ₹16 lakh were seized.
During the course of the investigation, Yuvraj confessed that he lived in the Washermenpet area in 2021 and had incurred a loss of ₹35 lakh in his business. Due to this, he shifted his residence to Manali New Town and lived in a rented house with his family for the last five months. Yuvraj was planning to repay the loan by making counterfeit notes with the help of his associates. They purchased quality paper and three colour photocopying machines from Richie Street and prepared ₹200 denomination counterfeit currency notes, the police said.