Khammam: Counterfeit currency racket busted
They are being interrogated while hunt is on to nab the eighth member and alleged kingpin.
Khammam: Seven members of a gang that cheated people with counterfeit currency notes were nabbed by the police in Sattupalli.
They are being interrogated while hunt is on to nab the eighth member and alleged kingpin.
According to sources, the gang cheated many persons in Sattupalli and the surrounding areas by offering Rs 3 lakh counterfeit currency in exchange for Rs 1 lakh. Many fell for this modus operandi.
However, when some of the gullible persons arrived at the appointed spot to collect the amount, the gang would cook up some story or the other.
Over 20 cases have been filed against Madar, the leader of the gang.
According to an official, “The leader used to offer Rs 3 lakh in counterfeit currency for one lakh rupees in real currency. Several innocent people fell for the trap.”
The gang members take real currency notes from the person and give a date for handing over the fake currency.
On that date, they enact a scene depicting police movement around the spot. The persons are told to leave the place to avoid trouble from the police.
If a person senses something fishy and demands return of his Rs 1 lakh, the gang comes up with some excuse or one of them gives some counterfeit notes and disappears.
Meanwhile, the police official said, “We will produce the members before media on Tuesday.”