Hyderabad, Nov 3 (PTI) Four people allegedly involved in printing counterfeit currency have been arrested, and fake notes with a face value of Rs 6.78 crore have been seized from them, police said on Tuesday.
Acting on a tip-off, police teams conducted a vehicle check at Abdullapurmet on November 1 and seized counterfeit notes worth Rs 8 lakh, fake police identity cards, an imitation pistol, walkie-talkie sets, four mobile phones and a car, according to a release from the Future City Police Commissionerate.
The accused had rented a house at Kuntloor, where the main accused allegedly scanned genuine notes, edited the images using software and printed counterfeit notes after learning the process from YouTube videos and social media content, police said.
After their attempts to circulate the fake notes failed, the gang adopted a new modus operandi of offering counterfeit currency to prospective customers, Future City Police Commissioner Tarun Joshi said.
Police said the gang first won the customers’ confidence by showing genuine currency. They then arrived in vehicles with fake number plates, posing as police officers with fake ID cards, walkie-talkies and an imitation pistol, threatened the customers, looted their genuine money and fled.
Based on information provided by the accused, police searched the rented house and seized 134 bundles of counterfeit Rs 500 notes worth Rs 6.7 crore, along with printers, a laptop, a lamination machine, a cutting machine and other material allegedly used to make the notes.
Three other accused are absconding, police said. PTI VVK SSK
