A 38-year-old man was found in possession of ₹11.10 lakh counterfeit currency notes of ₹500 denominations in Bazaar Ghat area of Nampally by the Central Zone Task Force team and the Nampally police.
The accused, Pabbati Murali Krishna, who was nabbed from a tiffin centre, has a history of involvement in multiple counterfeit currency cases since 2018, said the DCP of Commissioner’s Task Force, Y.V.S. Sudheendra.
Police confiscated the counterfeit currency along with equipment used for counterfeiting, including a computer, printers, scanner, laminating/heating machine, bundles of milk-white paper, and green foil security thread.
“Krishna acquired sophisticated printing equipment to produce counterfeit notes. He scanned genuine ₹500 notes, added security features, and printed counterfeit copies using high-quality paper. He then applied windowed security threads using a heating machine, cut the notes to the exact dimensions, and bundled them for circulation,” said the DCP.
The accused exchanged counterfeit currency at a ratio of ₹1 lakh fake notes for ₹14,000 genuine currency, thereby making illegal profits. He was earlier arrested in similar cases in Andhra Pradesh but resumed his illicit activities after being released on surety bonds.
On Saturday, Krishna travelled to Hyderabad with counterfeit currency to strike a deal with prospective buyers when the task force team nabbed him.
The accused was handed over to Nampally police for further investigation.
Published – February 01, 2025 08:15 pm IST