The city police on Friday arrested a two-member gang, which was circulating fake currency notes here on Friday. The police have seized fake currency notes of the value of ₹7.22 lakh in the denominations of ₹100, ₹200 and ₹500 from the accused.
The arrested were identified as Yagati Eswara Rao and R. Vishnu, both friends hailing from Vizianagaram district.
Based on credible information, Inspector of MVP Police Station P. Ramanayya and staff arrested two persons at Sivajipalem area.
Police said that Vishnu had some contacts with a few persons, who were involved in circulating fake currency notes in Odisha. The duo went to Odisha and Eswara Rao had allegedly given ₹3 lakh original currency notes to the gang and received fake currency notes of the value of about ₹12 lakh. The accused reportedly confessed that of the total about ₹4.77 lakh fake currency was already exchanged by them for making purchases.
The MVP police registered a case and are investigating.
