Police bust fake currency racket in Visakhapatnam, three arrested

The city police on Sunday arrested three suspects for allegedly trying to convert fake currency in Visakhapatnam. The accused were identified as KNV Satyanarayana, R. Jayaram and B.Padma Rao of Visakhapatnam HB Colony. Police seized counterfeit currency notes worth Rs 2,96,000 from them.

The police have identified Syed Mujibur Rahman of East Godavari district and Sheikh Abdul Rahman Chodavaram mandal of Visakhapatnam district as supplying counterfeit money.

They claim that these pirates are supplied fake currency in the ratio of 1: 3. "I think the location and technical expertise, printed fake currency," CP said. "But is this currency imported from other countries? " We are also investigating the matter, the main accused in the case is absconding," CPI said.