City police bust fake currency racket, nab two main accused

Bangalore, Sep 10 (UNI) The Bangalore police have busted a major fake currency racket and arrested two king pins who were at large since six months and seized fake notes worth Rs 36,000 in Rs 500 denomination besides equipment used to print fake currency notes..

Police Commissioner Neelam Achyuta Rao told newsmen here that the kingpins Shyam and Srinivas were arrested when they were trying to circulate the fake notes in the city. The kingpin of the gang identified as Rajan of Kerala was earlier arrested by the Andhra Pradesh police and was now in jail in Hindupur in that state, he said. In February police had arrested two members of the gang and recovered fakenotes worth Rs eight lakh.

Rajan and another person identified as Tailor Ravi were allegedly making the fake notes using colour printers and computers, which has since been seized by the police.

The arrests were made following the launch of a major police operation by the city crime bureau led by DCP Ravikante Gowda, after similar cases of circulation of fake notes by terrorist organisations had been reported in Mumbai and Hyderabad, he said.

UNI