Fake coin racket busted

ONGOLE, OCT. 7. The police here on Thursday busted a fake five-rupee coin racket. They arrested two persons and seized hundreds of fake coins, 10 kg metal and minting machine from them.

Following complaints that fake five rupee coins are being circulated in the district, the Superintendent of Police, Mahesh Chandra Laddha, constituted a special team which nabbed Cherukupalli Satyanarayana (45) of Nalgonda district at Vodarevu village near Chirala and seized fake coins from him.

Investigation revealed that the accused was earlier arrested on the same charge by the Darsi police in April last. He came out on bail and continued his activity. But he changed operations to Srirampur village in Guntur district.

Coins from scrap

He allegedly purchased steel scrap from some industries and used the metal to mint the coins. He prepared moulds himself to emboss head and tail on the coins.

On information given by him, the police arrested Mallempati Subrahmanyam of Uppugundur who allegedly helped him circulate fake coins and seized coins worth Rs. 5,000 from him.

Mr. Laddha said the accused person had circulated fake coins to the tune of Rs. 1 lakh in Guntur, Prakasam, Nalgonda and Hyderabad districts.