Three people, including an engineering graduate, were arrested by the Amberpet police for running a fake currency racket. Counterfeit currency notes worth Rs 90,000 were seized from them along with equipment. Police said the accused G. Srinivasa Reddy, 25, D. Rajashekhar, 21, an engineering graduate and A. Venkat Reddy, 20, were caught when they were moving around suspiciously at Vinayaknagar crossroads when the police were checking vehicles.
According to detective inspector of Amberpet, Mr A.C. Balagangi Reddy, “We found 200 fake `100 notes. During interrogation, the duo confessed that they were making fake currency with the help of Srinivas at his residence.” The inspector added that the trio used multiple scanner and Adobe Photoshop software to make the notes. “We raided Srinivas’ house and found the equipment used to make fake notes,” he said.
The East Zone DCP, Mr Y. Gangadhar, said if the police had not arrested the offenders, they would have printed a lot of fake currency and circulated it in the city. Police said Srinivas, a B.Com dropout, originally hailed from Karimnagar, and Rajashekhar, who had finished his engineering from the New India College of Engineering and Technology, Chevella, is a native of Adilabad district. Police has booked a case against the accused under IPC sections 489 B (Using as genuine, forged or counterfeit currency-notes or bank-notes) 489 D (Making or possessing instruments or materials for forging or counterfeiting currency-notes or bank-notes,) and 420 (for cheating).