Police bust fake currency racket, 2 nabbed

Bangalore, Sep 10 (UNI) Bangalore Police bust a major fake currency racket by arresting two persons who had been at large since six months and seized fake currencies worth Rs 36 thousand in Rs five hundred denomination besides equipment used for printing the notes.

Police Commissioner Neelam Achyuta Rao told newsmen here today, Shyam and Srinivas were arrested while trying to circulate the fake notes in the city.

The kingpin of the gang identified as Rajan of Kerala, earlier arrested by the Andhra Pradesh Police, was now in jail in Hindupur in the state.

In February, police had arrested two members of the gang and recovered fake notes worth Rs eight lakh.

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

The arrests were made following a major police operation launched by the city crime bureau under DCP Ravikante Gowda after cases of fake note circulation by terrorist organisations were reported in Mumbai and Hyderabad, he said.

UNI