Hyderabad: Warangal Task Force and Narsampet police arrested eight persons in a counterfeit currency racket involving fake note circulation and cheating operations across Telangana.
Police said three accused printed fake currency notes and circulated them in markets. The remaining five allegedly cheated people by promising to convert small amounts into larger sums in a 1:3 ratio.
Officials seized fake currency notes, ₹1.48 lakh in cash, laptops, printers, 13 mobile phones and two cars during the operation. Police estimated the value of the seized electronic items at around ₹28 lakh.
The arrested accused were Shaganti Kiran, Neerati Shiva, Neerati Ranjith and Gudikandula Ravi from Narsampet. Police also arrested Porika Rajkumar alias Raju from Ghanpur in Mulugu district.
The other accused were Tanamala Rajasekhar from Vemsuru in Khammam district, Mudurukola Yakambaram from Bhuvanagiri and Chenu Sai Kiran from Karakagudem mandal in Kothagudem district.
Counterfeit currency racket used chemical trick
East Zone DCP Ankit Kumar said police detained three persons from Narsampet and questioned them during the investigation. He said the accused used laptops and printers to create colour copies of ₹100 notes.
Police said the gang circulated the printed notes as genuine currency in markets.
Investigators said the other accused targeted victims by promising to multiply money through a chemical process. Officials said the gang dipped genuine ₹500 notes in iodine tincture solution to turn them black.
Police said the accused later restored the notes with sodium thiosulphate solution. They used the process to convince victims that black paper bundles could become genuine currency notes.
Officials said the accused collected real cash from victims and later escaped.
Police said the gang earlier carried out similar offences in Ghanpur, Monda Market, Vemsuru, Kothagudem, KUC and Subedari police station limits. Officials added that police had arrested and jailed them in earlier cases.
Investigators also found that the accused recently cheated people in Chatrinaka in Hyderabad and in Narsampet.
The police commissioner appreciated Task Force ACP Madhusudhan, Narsampet ACP Ravinder Reddy, Task Force Inspector Babulal, Narsampet Inspector Srinivas, AAO Salman Pasha and other police personnel involved in the operation.