Chinturu: Fake currency racket busted, 9 arrested
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Chinturu (Alluri Sitramaraju District): The Chinturu police busted a fake currency racket in VR Puram and arrested nine persons and seized fake Rs 500 notes worth Rs 44.5 lakh, the printers, a computer, an auto rickshaw, black colour bundles, white paper bundles and foil paper, cutting blades, scale and others from them.
The accused were identified as Podili Murali, Jangam Srinivasa Rao, Katari Samrajyam, Goudugolla Kiran Kumar, Konakalla Chittibabu, Vemula Pulla Rao, Podila Srinivas, Pakanti Nageswar Rao and Pasupuleti Umesh Chandra.
According to the Police, all of them formed a group and chose Palvancha village as their main centre and started secretly printing notes at Podili Murali's house in Palvancha village. As Goudugoulla Kiran Kumar is making necessary investment for the printing of these counterfeit notes, Jangam Srinivas, Konakalla Chittibabu and Vemula Pullarao are printing the counterfeit notes in Murali's house.
Kiran Kumar used to give them some amount of money as a percentage to print the counterfeit notes. These printed fake notes were being circulated as genuine notes by Podili Murali, Katari Samrajyam, Pakanti Nageswara Rao, Pasupuleti Umesh Chandra, Podila Srinivas in the villages of Palvancha, Bhadrachalam, Etapaka, Nellipaka, VR Puram, Rekhapalli, Koonavaram, Chintoor and Kunta. They used to pay Rs 10,000 original cash for one lakh rupees fake currency to Godugoulla Kiran Kumar to circulate the notes.
Speaking to the media, SP S Satish said that the fake currency notes printed in Palvancha village were exchanged during evening and night hours at crowded places, petrol stations, grocery shops and hotels.