Hyderabad: Rachakonda Police Bust Fake Currency Racket, Seize Rs 5 Lakh in Counterfeit Notes
The Rachakonda Special Operations Team (SOT), in collaboration with Pahadishareef police, cracked down on a counterfeit currency racket on Friday, arresting one individual and seizing fake Rs 500 notes worth Rs 5 lakh, along with materials used for counterfeiting.
Hyderabad: The Rachakonda Special Operations Team (SOT), in collaboration with Pahadishareef police, cracked down on a counterfeit currency racket on Friday, arresting one individual and seizing fake Rs 500 notes worth Rs 5 lakh, along with materials used for counterfeiting.
Table of Contents
Suspect Identified as K Naveen Kumar
The arrested individual, K Naveen Kumar (26), hailing from Mahabubnagar, has a diploma in Civil Engineering but previously worked in graphic design and multimedia. According to the police, his expertise in animation and designing enabled him to create counterfeit currency.
Financial Struggles Led to Illegal Activities
Despite his qualifications, Naveen faced persistent financial hardships, prompting him to take up odd jobs. In August 2023, he turned to illegal activities, researching counterfeit currency production online. His background in graphic design and digital marketing played a pivotal role in his ability to produce fake notes.
Follow for more details: munsifdaily.com
Collaboration and Counterfeiting Operations
Police Commissioner G. Sudheer Babu revealed that Naveen shared his counterfeit currency plan with a friend from Kurnool, who provided financial support and materials for the operation. Naveen then began producing counterfeit Rs 500 notes.
Also Read: Income Tax Raids on Dil Raju: Film Producer Declared Clean, Slams Media Speculations
Arrest and Ongoing Investigation
Acting on a tip-off, the police arrested Naveen in Tukkuguda, where he was attempting to circulate the counterfeit currency through an agent.
Efforts are underway to identify and apprehend other individuals connected to the counterfeit currency network.
Police Warning
The Rachakonda Police have urged citizens to stay vigilant and report any suspicious activities to help curb counterfeit currency operations in the region.
