Hyderabad: Two individuals in Hyderabad have been apprehended for their alleged involvement in the production and circulation of counterfeit Indian currency, with the police recovering over Rs 4 lakh in fake money.
The prime accused, Vanam Laxminarayana, possessing computer expertise, reportedly utilised a screen printer, green foil paper, JK Excel bond papers, cutters, and a lamination machine to execute the fraudulent operation.
Inspired by the 'Farzi' web series, Laxminarayana decided to print counterfeit notes for circulation in the market.
His alleged accomplice, Erukala Pranay Kumar, was caught testing fake currency at a fruit and vegetable market with Rs 20,000 in counterfeit bills.
Police inspector Anjaneyulu revealed, "We have seized 810 fake currency notes in the Rs 500 denomination that were intended to be circulated. Printers, scanner, and other things were also seized."
During the course of the investigation, it was disclosed that Laxminarayana, previously involved in a mortgage fraud, enlisted Kumar in the criminal activity, promising a share of the profits. Both suspects are now in custody with the Hyderabad Police. The arrests highlight the growing issue of counterfeit currency circulation and the creative means adopted by individuals to carry out such illegal activities.
The use of technology, such as screen printers and sophisticated equipment, in the counterfeiting process showcases the evolving nature of such crimes.