Dynamite News Fake currency racket busted in Visakhapatnam, two arrested
In a major breakthrough, the Visakhapatnam City Police have dismantled a gang and arrested two individuals involved in circulating fake currency. Read further on Dynamite News:
Visakhapatnam: In a major breakthrough, the Visakhapatnam City Police have dismantled a gang and arrested two individuals involved in circulating fake currency.
According to Visakha City Police DCP Meka Sattibabu, two individuals, identified as Bhaskara Raju and Maddala Srinivas, were caught red-handed while dealing with counterfeit notes at Kakani Nagar.
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Bhaskara Raju first purchased cigarettes from an Annavaram Pan Shop, and once after being convinced of the authenticity of the counterfeit notes, a deal worth 30 lakhs was struck for fake currency notes valued at a staggering 3 crores.
The fake currency notes in black color appeared to be original notes when dipped in liquid.
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The authorities have confiscated fake currency amounting to three crores of rupees, three mobile phones, a car, and a substantial amount of cash from the accused.
A case has been registered under section 489 and the police teams are searching for the third accused Gani Raju. (ANI)