Nine-member Telangana gang arrested for printing, circulating counterfeit currency notes in Chintoor Agency of Andhra Pradesh

Counterfeit notes with a face value of ₹45 lakh printed in denominations of ₹500 seized; gang was active in tribal areas along the borders of A.P., Telangana and Chhattisgarh  

March 16, 2023 09:49 pm | Updated 09:49 pm IST - CHINTOOR (ASR DISTRICT)

SP S. Satish Kumar and police officials with the counterfeit cash seized during an operation at Chintoor in ASR district on March 16.

SP S. Satish Kumar and police officials with the counterfeit cash seized during an operation at Chintoor in ASR district on March 16.

A nine-member Telangana-based gang has been arrested here on March 16 for allegedly printing and circulating counterfeit notes of ₹500 denomination in the areas bordering Andhra Pradesh, Telangana, and Chhattisgarh States.

The gang was based in Palvancha village of neighbouring Telangana, from where the accused were allegedly printing and circulating the counterfeit notes in villages located in the tri-State bordering areas.

Speaking at a press conference here on March 16, Alluri Sitarama Raju District Superintendent of Police S. Satish Kumar said, “The counterfeit notes with a face value of ₹44.5 lakh have been seized in the case. The machinery used to print the counterfeit notes has also been seized.”

The accused have been identified as Podili Murali, Janagam Srinivasa Rao, Katari Samrajyam, Gudugolla Kiran Kumar, Vemula Pulla Rao, Konakalla Chittibabu, Podili Srinivas, Pakanati Nageswara Rao and Pasupuleti Umesh Chandra of Palnadu and Bhadradri Kothagudem districts in Telangana State.

“Podili Murali’s house in Palvancha village is where the notes are printed. Jangam Srinivasa Rao of the same village is the kingpin who takes care of the investment, procurement of machinery, and circulation of the notes,” Mr. Satish Kumar said.

The other six accused have been identified as agents who purchased the counterfeit notes from Srinivasa Rao for circulation. The counterfeit notes with a face value of ₹1 lakh were sold for ₹10,000. Earlier, Srinivasa Rao had been booked in similar cases of counterfeit fraud.

“The gang has targeted Bhadrachalam and surrounding areas in Telangana, Chintoor Agency in Andhra Pradesh and Konta in Chhattisgarh for circulating the fake notes,” said Mr. Satish Kumar.

Chintoor ASP K.V. Maheswara Reddy told The Hindu that an investigation is on to ascertain more facts in the case. “A month ago, the gang printed counterfeit notes with a face value of ₹80 lakh. Notes with a face value of around ₹25 lakh were reportedly burnt by the gang after they got a whiff of the police investigation,” Mr. Maheswara Reddy said. 

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