- Learned the method of printing counterfeit notes via social media
Hyderabad: The police have arrested four individuals and seized a large consignment of counterfeit currency. Counterfeit notes with a face value of ₹6.78 crore—all in the ₹500 denomination—were recovered. The accused had learned how to produce these fake notes through social media. The gang operated in a “filmy” style, often disguising themselves in police uniforms to carry out their activities.
Police Commissioner Dr. Tarun Joshi stated that on November 1, his team intercepted a car near Ramoji Film City on NH-65 and arrested four suspects: Madupoju Karunakar, Chinola Manikya Reddy, Cherukupalli Ratnakar Reddy, and Karanam Ajay Kumar. Acting on information provided by them, the police raided a room where they discovered counterfeit notes worth ₹6.78 crore, all in the ₹500 denomination.
The mastermind behind the operation would scan genuine currency notes and edit the images using software—a technique he learned from YouTube videos and social media. The police are currently investigating to determine who else might be involved in this racket.
The police also uncovered an illegal printing facility for counterfeit currency in a rented house in Kuntlur, Hayathnagar. A printer, a laptop, note-cutting machines, and other equipment were seized from the premises. The accused allegedly posed as police officers, using fake identification cards, walkie-talkies, and imitation pistols to intimidate and defraud people.
Investigations revealed that the gang initially attempted to circulate the counterfeit currency by offering ₹3 to ₹4 lakh in fake notes in exchange for ₹1 lakh in genuine cash. However, when this plan failed, they resorted to a different method.
According to the police, members of the gang would first show genuine currency notes to potential buyers to gain their trust. Subsequently, their accomplices would arrive on the scene posing as police officers, threaten legal action, and flee with the buyers’ genuine money. In two such incidents, the accused swindled the victims out of ₹2 lakh and ₹3 lakh, respectively. The total face value of the counterfeit ₹500 notes recovered in this case amounts to ₹6.78 crore—a discovery the police have described as a major success.
