Task Force and local police bust counterfeit currency racket, man held with fake Rs 500 notes
A habitual offender in printing counterfeit currency, Murali Krishna procured a computer, colour printer, and other material, and made counterfeit currency notes of Rs 500 denomination
Hyderabad: The Task Force (Central) team along with the local police busted a counterfeit Indian currency racket and arrested one person at Bazaar Ghat in Nampally on Saturday. Counterfeit currency with face value of Rs 11.1 lakh in Rs 500 denomination, printing equipment and other material were seized.
According to the police, Murali Krishna (38), a trader from Khammam and native of Guntur, was a habitual offender in printing counterfeit currency. He procured a computer system, colour printer, and other material and made counterfeit currency notes of Rs 500 denomination.
“He circulated this counterfeit currency in the local market through his associates. He was exchanging fake currency of Rs 1 lakh value with Rs 14,000 original currency notes and making easy money,” said a senior police official.
Murali Krishna has a criminal record since 2018 in counterfeit currency cases and was previously arrested thrice in similar cases. He gained skills in printing of counterfeit currency and circulated in the market in 1:3 ratio through his associates.
On Saturday, Murali Krishna came to Hyderabad along with the fake currency and was trying to sell in to prospective customers, when he was nabbed.
The arrested persons and the seized material were handed over to the Nampally Police for further action.
