A major counterfeit currency racket has been uncovered in Hyderabad, Telangana, resulting in the arrest of four individuals and the recovery of counterfeit Indian currency notes of 500 denomination worth Rs 6.78 crore. The Future City police carried out the operation and confiscated an array of printing equipment, including laptops, high-end printers, and currency cutting machines used to produce the fake legal tender.
Highway Interception Near Ramoji Film City
Future City Police Commissioner Dr. Tarun Joshi stated that the arrests took place during a joint operation on Sunday. Personnel from the Abdullapurmet police and the Shadnagar Special Operations Team (SOT) intercepted a suspicious vehicle along National Highway-65 near Ramoji Film City. The four occupants were immediately detained and questioned. The arrested individuals have been identified as Madupoju Karnakar, Chinnola Manikya Reddy, Cherukupelli Ratnakar Reddy, and Karanam Ajay Kumar.
Clandestine Printing Unit in a Rented House
Further investigation revealed that the gang was running an illegal currency printing facility from a rented residence located in Kuntloor, on the outskirts of Hyderabad. The secluded setup had been turned into a workshop dedicated to mass-producing counterfeit 500-rupee banknotes using specialized hardware. Law enforcement officers raided the site and seized multiple printing machines, laptops, paper cutting equipment, and related supplies used in the clandestine operation.
Impersonation and Extortion Using Fake Credentials
The probe also brought to light that the accused were actively impersonating police officers to intimidate and swindle people. The group allegedly possessed fake police identification cards, walkie-talkies, and imitation pistols. Utilizing these props, they posed as genuine officers to threaten individuals and orchestrate deceptive extortion schemes alongside their currency operation.
Ongoing Investigation into the Supply Network
Police Commissioner Dr. Tarun Joshi indicated that a comprehensive probe is currently underway to uncover the full scope of the syndicate. Investigators are working to trace the procurement chain of the specialized machinery, uncover the distribution channels through which the counterfeit cash was being pumped into circulation, and determine whether additional accomplices are linked to the illicit venture.
