Fake currency racket busted

Staff Reporter

Five held, counterfeit notes worth Rs. 1.31 lakh seized

Computer, printer and other accessories seized

Fake educational certificates, stamps also seized

NIZAMABAD: The town police arrested five persons and seized Rs. 1.31 lakh counterfeit currency notes, one computer, one printer and accessories, 15 fake educational certificates and 13 stamps from them.

The police swung into action based on a complaint lodged by K.L.N.V Prasad, branch manager of ING Vysya Bank, Devi Road, stating that one Bhoomesh had come to the branch with Rs. 20,000 and handed over the amount to the cashier for depositing it against the A/c No. 352010015145. The cashier found that 51 notes of Rs.100 denomination were counterfeit.

Gives the slip

Bhoomesh gave slip to the bank officials leaving behind the fake notes when they were being checked.

Presenting the accused persons -- Gandham Bhoomeswar, Nyalam Rajeswar, Tudupunuri Kishan, Bandari Sathyam and Avunuri Kiran Kumar before mediapersons, here on Wednesday, Deputy SP G. Satyanarayana said the police led by Circle Inspector N. Lakshminarayana nabbed them yesterday.

Modus operandi

One of the accused Kiran Kumar had computer knowledge and was involved in making counterfeit notes of Rs. 500 and Rs.100 denomination. Bhoomeshwar and Rajeswar used to exchange them through banks mixing them with original notes.

Accordingly the two managed to deposit Rs.40,000 with a corporate bank in the town in Rajeshwar’s account and later withdrew the amount. Similarly, they managed to credit Rs. 25,000 in another private corporate bank in the town and withdrew Rs. 20,000.

During the course of interrogation the accused confessed to making fake certificates of Greater Hyderabad Municipal Corporation and some trade licences.

The arrested persons were being remanded to judicial custody, said the Deputy Superintendent of Police.

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