Hyderabad, 04 November 2026: A gang printing fake currency notes in Hyderabad has been busted by Abdullapurmet Police and Shadnagar Special Operations Team (SOT). Police have arrested four persons and seized fake notes of Rs 500 from them.
Police Commissioner Tarun Joshi had said that on November 1, the accused were caught traveling in a car on National Highway 65 near Ramoji Film City.
Fake 500 rupee notes seized
During this operation, Telangana Police has seized fake notes of Rs 500 with a total value of Rs 6.78 crore. Police Commissioner Tarun Joshi had said that more investigation is going on to identify other persons involved in this gang.
This gang was caught in a joint operation by Abdullahpurmet police and Shadnagar SOT. The four arrested people have been identified as Madupoju Karunakar, Chinnola Manikya Reddy, Cherukupalli Ratnakar Reddy and Karanam Ajay Kumar.
During investigation, the police found out that printing of fake currency notes was going on from a rented house in Kuntalur. A printer, a laptop, note cutting machines and other equipment were seized from that place.
Posed as fake police and extorted lakhs of rupees from people
The Police Commissioner said, “The accused had used fake identity cards and equipment of the police to carry out their activities with the intention of creating fear and disorienting the people.”
The investigators found out that this gang had initially tried to circulate fake currency. They would lure buyers that if they gave genuine currency notes worth Rs 1 lakh, they would be given fake notes worth Rs 3-4 lakh in return. When this tactic failed, he adopted a different approach.
According to the police, the members of this gang used to win the trust of the buyers by showing them real currency notes. Subsequently, his other associates would arrive there posing as police officers, threaten the buyers with legal action and abscond with their actual cash. In two such incidents, the accused had extorted Rs 2 lakh and Rs 3 lakh from the victims respectively.