It has only been two weeks since the demonetisation move that Prime Minister Narendra Modi has initiated in order to curb black money. It was also aimed at eradicating counterfeit currency and fake notes that have been in circulation. But people seem to have already started producing fake notes.
On Saturday, police in Hyderabad arrested six people and seized counterfeit money of worth over 2 lakhs busting a fake notes racket. The police seized 105 counterfeit notes of Rs. 2,000.00 which was released following the demonetisation of Rs. 1,000 and Rs. 500 notes. This incident took place around 35 km from Hyderabad in Rachakonda police station limits, under Ibrahimpatnam Taluk. The total amount that was seized was Rs 2,22,310 from the gang, in this Rs. 2,000 notes were worth Rs. 2,10,000. The remaining was in denominations of Rs. 100, Rs. 50,Rs. 20 and Rs. 10 respectively. In addition to this, two color Xerox machines and Rs. 50,000 in cash was also seized from the spot.
Rachakonda police commissioner Mahesh Bhagwat said, “the gang started off by printing fake currency notes of lower denominations, and after successfully circulating them in the market they moved the new Rs. 2,000 banknotes.” The Chief also said the accused were still waiting for an opportunity to circulate the fake Rs. 2,000 notes.
The alleged culprits were Jamalapur Sainath, 28, a butcher by profession, was the brains and leaders of this group. His accomplices in this task of producing counterfeit money were, Anjaiah, Satyanarayana, Sridhar Goud and Vijay Kumar and Ramesh. The police received information from a trusted source and then raided Ramesh’s home at Ibrahimpatnam and arrested the six accused. Two other accused who absconded in this raid Kalyan and Srikanth are still missing. The police are still searching for the missing accused.
