Crores in Fake Cash: Telangana Police Bust Massive Counterfeit Racket
Hyderabad police arrested four people and seized fake Rs 500 notes worth Rs 6.78 crore near Ramoji Film City.
In a major crackdown on financial crime, the Telangana police have dismantled a sophisticated counterfeit currency racket, seizing fake notes with a staggering face value of Rs 6.78 crore. The operation, which unfolded on the outskirts of Hyderabad, has resulted in the arrest of four individuals involved in the illicit trade.
The Highway Sting Operation
The breakthrough occurred on November 1, when a joint team comprising the Abdullapurmet Police and the Shadnagar Special Operations Team (SOT) intercepted a suspicious vehicle. The car was stopped on National Highway 65, specifically in the vicinity of the famous Ramoji Film City.
Upon searching the vehicle, officers discovered a massive haul of counterfeit Rs 500 currency notes. The total face value of the seized fake currency amounted to Rs 6.78 crore.
Who Were the Arrested?
The police have identified and apprehended four men in connection with the racket. The arrested individuals are:
- Madupoju Karnakar
- Chinnolla Manikya Reddy
- Cherukupelly Rathnakar Reddy
- Karanam Ajay Kumar
Future City Commissioner of Police Tarun Joshi confirmed the arrests and the seizure, stating that the operation was a coordinated effort between the local police and the SOT. He further noted that the investigation is still active, as authorities are working to uncover the wider network and identify other accomplices involved in the production and distribution of the fake notes.
Wider Context of Fake Currency Crimes
This bust comes on the heels of another high-profile investigation by the National Investigation Agency (NIA) last month. In a separate but equally alarming case, the NIA arrested two primary conspirators involved in the illegal printing and supply of counterfeit Indian currency.
That specific conspiracy was particularly audacious, as the fake notes had managed to reach the currency chest of a Punjab National Bank (PNB) branch in Saharanpur, Uttar Pradesh. The NIA arrested Ajay Kumar from Ambala, Haryana, on October 16, and Harish Rounta from Manali, Himachal Pradesh, on October 22.
According to the agency, these individuals were close associates of another arrested suspect, Adesh Choudhary, highlighting a complex web of organized crime aimed at infiltrating the formal banking system with forged currency.