Four arrested in Hyderabad for counterfeit currency racket
Police seized fake Rs 500 notes with a total face value of Rs 6.78 crore during a joint operation.
The Abdullapurmet Police and the Shadnagar Special Operations Team (SOT) arrested four people for their involvement in a counterfeit currency racket in Hyderabad, according to the Deccan Chronicle.
The suspects, identified as Madupoju Karnakar, Chinnolla Manikya Reddy, Cherukupelly Rathnakar Reddy, and Karanam Ajay Kumar, were intercepted in a car near Ramoji Film City on National Highway 65 on November 1.
During the operation, officials seized counterfeit Rs 500 notes with a total face value of Rs 6.78 crore.
Future City Commissioner of Police Tarun Joshi said that police are conducting further investigations to find other individuals linked to the racket.
The arrest follows a separate case where the National Investigation Agency (NIA) apprehended two conspirators, Ajay Kumar and Harish Rounta, in October for supplying fake notes to a Punjab National Bank (PNB) branch in Saharanpur, Uttar Pradesh.