Fake Currency racked busted in Hyderabad
The fake currency racket has busted in Hyderabad and the four persons have been arrested by the police near railway station. On Thursday, Police have seized 533 counterfeit currency notes in the denomination of Rs 1,000 and 141 in the denomination of Rs 500. The total note which are seized are worth of Rs 6,03,500. Yesterday the four person Bhupati Teja of Anakapalle, Kaspa Parameswara Rao and Gajula Rajesh of Tenali, Kanikineni Nageswara Rao of Pedda Vadlapudi who are arrested by Police, were produced before the media. According to SP Navdeep Singh, Bhupati Teja and Rajesh are working as costume designers in Hyderabad and addicted to Cricket betting. The other two Parameswara and Nageswara are relatives who have contacts in Vardaman village, near Howrah and they used to exchange their fake currency with original notes and circulate it in other parts of Visakhapatnam, Vizianagaram, Vijayawada and Guntur districts. Currently all the four accused are in police custody.