Posted: Date Posted – 7:15 PM, Sun – Jun 5, 22
Jagtial: Jagtial police broke up a counterfeit money circulation gang and arrested five of its members. Counterfeit notes worth Rs 15 lakh and original banknotes worth Rs 3 lakh were recovered.
Producing the accused to the media here on Sunday, City of Jagtial, CI Kishore, explained the modus operandi of the gang.
Based on reliable information, police led by DSP R Prakash, CCS Inspector Kiran, City SIs Raheem, Sanjeev and others carried out checks in the new bus stop area of Jagtial on Sunday morning and found five people moving in suspicious circumstances. When questioned, they confessed to the crime of circulating counterfeit banknotes. They also informed that they came to Jagtial to exchange counterfeit banknotes brought from Hyderabad.
Meka Shekhar from Thallapeta, Dandepalli mandal, Marmakola Radhakishan from Pottigudem, Jannaram mandal from Mancherical district, Yerrolla Srinivas Goud from Godavarikhni from Peddapalli district, Vijjagiri Srikanth and Vijjagiri Bikshapathi from Elkathurthi from Warangal district were arrested by the cops.
Counterfeit notes of 500 denominations worth Rs 15 lakh and original banknotes of Rs 3 lakh were seized. The gang, which was once involved in treasure hunting, suffered losses as it resumed activity in different locations. In order to overcome the losses, they decided to circulate counterfeit banknotes.
As part of their scheme, the gang members brought counterfeit Rs 15 lakh notes from Hyderabad and attempted to circulate them in Jagtial on Sunday. However, the police foiled their attempt by arresting them. Shekhar had previously been involved in counterfeit currency circulation activities and six cases have been registered against him.