The East Godavari police on Thursday arrested a six-member gang including a woman in connection with circulating counterfeit currency and recovered 87 counterfeit notes with a face value of ₹23,100.
The arrested were: Jasti Ramesh Chakravarthi of Tanuku in West Godavari district and Chakrapani, Alajangi Parvati, Rayudu Lakshmipathi, Rayudu Pravaktha Kumar and Kina Venkata Narayana of East Godavari district. Mr. Pravaktha Kumar was engaged in aquaculture and the rest were real estate brokers.
A few days back the racket came to light when a bank official identified 16 counterfeit currency notes of ₹500 denomination in ₹1 lakh deposited by one Jampana Srinivas in Anaparthi branch of the SBI. Mr. Pravaktha Kumar had reportedly given the notes to Mr. Srinivas to clear his debt.
In a release, East Godavari SP Adnan Nayeem Asmi said, “In September, Mr. Ramesh Chakravarthi went to Hyderabad and obtained counterfeit currency for a value of ₹1 lakh by paying ₹25,000. Since then he had formed a group and had been circulating fake notes.”
The police also recovered from the gang some demonetised currency, 98 notes of ₹1,000 and 14 ₹500 notes.
A printer-cum-scanner was recovered from Mr. Ramesh Chakravarthi who attempted to print currency.
Cases have been registered against all of them.
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