Fake currency racket busted in Visakhapatnam

By Author  |   AP Bureau  |  Published: 1st Dec 2019  7:13 pm

Visakhapatnam: Police busted a fake currency racket running in the name of real estate business in the city. Talking to reporters here on Sunday, City Commisioner of Police R K Meena said that three persons in MVP Colony police station limits circulating fake currency in the denominations of Rs 2000 and Rs 100 was arrested while two others are at large. Two realtors in the city K Naga Venkata Satyanarayana and B Padmarao alias Chinni Dora and the former’s driver R Jayaram, struck a deal with Sk Abdul Rahman of Chodavaram and Syed Mujibur Rahman of East Godavari district for exchanging Rs1.17 lakh for Rs 3 lakh fake currency. On a tip-off, police reached their rendezvous near Chodavaram bus stand and took the three into custody while the Rahmans managed to escape. He said that the police were contemplating on seeking the help of NIA for probing the case.


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