Fake currency racket busted

WARANGAL DEC. 7. The police today arrested two members of an inter-State fake currency gang and seized from them the sophisticated machinery worth Rs. 4 lakhs and fake currency for Rs.8 lakhs.

Addressing a press conference, the Superintendent of Police, Nalin Prabhat, and the OSD, Y. Nagi Reddy, said they took into custody one Sanga Laxmi Rangaiah alias Ranga Babu and Kandukuri Chitari Srinivas alias K C Srinivas of Kurnool district.

Both had printed currency to the tune of Rs.36 lakhs and circulated Rs.15 lakhs during the last six months in Tamil Nadu, Karnataka and in the districts of Kurnool and Warangal in Andhra Pradesh.

The gang had been carrying out the trade since 1995 and earlier, the police arrested by Narasmpet police Sanga Laxmi Rangaiah.

After release on bail, he again continued making fake currency notes. On Friday, Rangaiah came to Warangal along with K C Srinivas and on a tip off, the police nabbed them.

Mr. Nalin Prabhat appealed to public to be cautious. "Indian currency has many inbuilt security systems compared to foreign currency. It is very easy to identify the fake currency,'' he said.

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