Police bust two counterfeit currency rackets in Uttar Pradesh and Hyderabad
Authorities in Shravasti and Hyderabad arrested seven people and seized fake notes worth over Rs 6.78 crore during separate operations.
A joint team of the Uttar Pradesh Special Task Force (STF) and Sonwa Police busted an illegal currency printing operation in Shravasti district on November 5, according to India Today. The raid at Giriraj Rice Mill in Bhitiya Chichri village led to the arrest of Girija Shankar Jaiswal, Narendra Kumar Chaurasia, and Vrijendra Goswami.
Police recovered 804 counterfeit notes in Rs 100, Rs 200, and Rs 500 denominations, totaling Rs 1.74 lakh. Officers also seized a Canon colour printer, ink refills, 156 A4 sheets of printed notes, cutting equipment, three mobile phones, and Rs 5,500 in cash.
Investigators said the group planned to circulate the notes during Diwali by purchasing jewellery and goods or targeting people involved in gambling. The accused allegedly intended to exchange Rs 1 lakh in real currency for Rs 3 lakh in fake notes. Goswami reportedly learned the printing technique in Mumbai and through YouTube videos.
In a separate operation, the Future City Police in Hyderabad arrested four men on Sunday, according to Telangana Today. The suspects, identified as Madupoju Karnakar, Chinnolla Manikya Reddy, Cherukupelly Rathnakar Reddy, and Karanam Ajay Kumar, were intercepted near Ramoji Film City on NH-65.
Police seized fake Rs 500 notes valued at Rs 6.78 crore, alongside laptops, printers, and cutting machines. Future City Commissioner of Police Dr Tarun Joshi said the group allegedly operated from a rented house in Kuntloor and used fake identity cards, walkie-talkies, and a dummy pistol to impersonate police officers.
The Hyderabad police are currently investigating the source of the equipment and the potential involvement of others in the network.