Eight arrested in Warangal for counterfeit currency and cheating racket
Warangal police arrested eight persons involved in counterfeit currency printing and fraud schemes. The accused used fake notes and chemical tricks to cheat victims, with police seizing cash, equipment, and vehicles worth nearly Rs 28 lakh
Hanamkonda: Warangal Task Force and Narsampet police arrested eight persons involved in currency related crimes.
Among the arrested, three were involved in printing counterfeit notes and circulating them in the market while five persons were defrauding people promising to exchange real currency for larger amounts of fake currency at a ratio of 1:3.
Speaking to the media here on Monday East Zone DCP Ankit Kumar informed that police seized counterfeit currency, genuine cash worth Rs 1.48 lakh, laptops, printers, 13 mobile phones and two cars worth around Rs 28 lakh from the arrested.
The accused were Shaganti Kiran, Neerati Shiva, Neerati Ranjith and Gudikandula Ravi of Narsampet, Porika Rajkumar of Ghanpur in Mulugu; Thanamala Rajasekhar of Vemsoor in Khammam; Mudurukola Yakambaram of Bhuvanagiri; and Chenu Saikiran of Karakagudem mandal in Kothagudem.
Three accused from Narsampet were using a laptop and a printer to create colour prints of genuine Rs 100 notes, which they were then circulating in the market as authentic currency.
The remaining five accused used to take genuine Rs 500 currency notes, dip them in an iodine tincture solution to turn them black and then dip them in sodium thiosulfate (Hypo) solution-a photographic fixing agent-as a result of the chemical reaction, the notes would revert to their original appearance.
Executing their scheme, they would hand over sheets of black paper to the unsuspecting victims assuring them that if they followed the above procedure, the black papers would transform into genuine currency notes. Then they would collect actual money and abscond, the ACP said.
They committed frauds in Ghanpur in Mulugu, Monda Market in Secunderabad, Vemsoor, Kothagudem, KUC and Subedari. They were booked and were sent to jail in the past. Recently they had carried out similar frauds in Chatrinaka in Hyderabad and Narsampet.
The CP Sunpreet Singh commended Task Force ACP Madhusudhan, Narsampet ACP Ravinder Reddy, Task Force Inspector Babulal, Narsampet Inspector Srinivas, AO Salman Pasha and the personnel for nabbing the accused.