Police bust fake currency racket in Hindupur, five arrested
Police in the Sri Sathya Sai district dismantled a fake currency operation, arresting five individuals involved in the scheme. The gang deceived victims by promising large returns on genuine cash in exchange for counterfeit currency. Authorities seized fake notes valued at nearly ₹50 lakh and are searching for an additional suspect.
- ▪Five individuals were arrested for running a fake currency racket in Hindupur.
- ▪The gang used counterfeit notes and posed as police officers to intimidate victims.
- ▪Police seized fake currency with a face value of nearly ₹50 lakh during the operation.
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The Sri Sathya Sai district police on Monday busted a fake currency racket and arrested five persons for allegedly cheating unsuspecting people by promising ₹10 lakh in counterfeit currency for every ₹1 lakh in genuine cash.The Hindupur police said the accused allegedly used fake currency notes and posed as police officials to intimidate victims and make the counterfeit bundles appear genuine. Their modus operandi was to lure gullible people to a specified spot under the pretext of exchanging goods.
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