Busting of fake currency manufacturing gang in Hyderabad and seizure of ₹6.78 crore

Achieving a major breakthrough, the Future City Commissionerate Police of Hyderabad has busted a fake currency printing gang operating in the outskirts of Kuntloor. During this operation, the police arrested four individuals and seized fake notes with a total face value of ₹6.78 crore from them. This entire incident began on November 1 when a car was intercepted near Ramoji Film City on National Highway 65 by the Abdullapurmet police and the Shadnagar Special Operations Team (SOT).

Police recovered fake notes of ₹500 from this car, the total value of which was ₹8 lakh. At this time, four persons travelling in the car were arrested. Subsequently, when the police conducted further investigation, it was revealed that an entire fake currency printing unit was operating in a rented house in Kuntloor. From this house, 134 bundles of fake ₹500 notes were found, the estimated value of which amounts to about ₹6.70 crore. In addition to this, the police also seized a color printer, scanner, laptop, lamination machine, and paper-cutting equipment.

Police Commissioner Dr. Tarun Joshi stated that the mastermind of this gang is Madupoju Karunakar. He learned the method of making fake currency by watching YouTube videos and social media content. Karunakar scanned genuine ₹500 notes and modified their images using software like Photoshop to print fake notes.

During the investigation, it has also come to light that this gang used fake police identity cards to defraud people. The gang's plan was to circulate fake notes in exchange for genuine notes. They lured people by offering to give ₹3 to ₹4 lakh in fake notes in exchange for ₹1 lakh. When this first plan of theirs failed, the accused adopted another way of cheating.

To win the trust of buyers, the accused would show them genuine notes and then pose as police personnel by using fake identity cards, walkie-talkies, fake pistols, and vehicles with fake number plates. They would intimidate the buyers, take away their genuine money, and flee. In two separate incidents committed by this gang, two people were duped of ₹2 lakh and ₹3 lakh respectively.

The police have identified the arrested accused as Madupoju Karunakar, Chinola Manikya Reddy, Cherukupalli Ratnakar Reddy, and Karanam Ajay Kumar. Three other accused in this case are still absconding. Police Commissioner Dr. Tarun Joshi further stated that this operation was carried out jointly by the Abdullapurmet police and the Shadnagar SOT.

At present, a search for the absconding accused is being conducted by the police. Along with this, further investigation is also underway to understand the extent of this racket and to identify other individuals involved in the fake currency network.