City Police on Sunday claimed to have busted a counterfeit currency racket with the arrest of six members and seized fake Indian currency notes of varying denominations totalling Rs 1.33 lakh. The sleuths of commissioner's task force, North Zone, seized the fake currency of denominations of Rs 1000, Rs 500 and Rs 100 besides an HP colour printer, one CPU and seven cellphones, from the accused, police said.
Founder of the gang, identified as B Murari Goud used to print counterfeit currency notes with the help of two members, namely Jayaram and Krishna, in his house and circulate the same through his associates, they said. Jayram and Krishna are currently at large and efforts are on to nab them. All the six members are accused of indulging in preparation and circulation of counterfeit currency. The police closely monitored the activities of organised crime in their jurisdiction and in this process laid a trap and busted the gang, they added.