Telangana police have dismantled a highly unusual counterfeit currency operation on the outskirts of Hyderabad, arresting four individuals and seizing fake ₹500 notes with a face value of ₹6.78 crore. The investigation revealed that the prime accused allegedly learned the intricate process of manufacturing fake currency through YouTube videos and other social media content.
Fake Currency Production and Distribution
The racket came to light on November 1 when Abdullapurmet police, in collaboration with the Shadnagar Special Operations Team (SOT), intercepted a vehicle near Ramoji Film City on National Highway 65. Inside, officers discovered counterfeit ₹500 notes valued at ₹8 lakh and promptly arrested the four occupants.
Further investigation led authorities to a rented house in Kuntloor, Hyderabad, which was being used as a clandestine printing unit. At the premises, police uncovered an additional 134 bundles of fake ₹500 notes, estimated to be worth approximately ₹6.70 crore. Equipment seized included printers, scanners, a laptop, a lamination machine, and tools for cutting the counterfeit currency.
YouTube Tutorials and Photoshop Skills
Future City Commissioner of Police Dr. Tarun Joshi stated that the alleged mastermind, Madupoju Karnakar, acquired his counterfeiting skills by watching online tutorials. Karnakar reportedly scanned genuine ₹500 notes, then used image-editing software like Photoshop to modify and print them.
Initially, the gang planned to circulate the fake notes by offering ₹3-4 lakh in counterfeit currency for every ₹1 lakh in genuine cash. However, when this scheme failed to attract sufficient buyers, they devised a more elaborate and deceptive method.
The 'Fake Cop' Extortion Scheme
Investigators discovered that the accused resorted to posing as police personnel to gain the trust of prospective buyers and then rob them of their genuine money. The gang would first display genuine currency to convince victims of the legitimacy of their fake note exchange deal.
Subsequently, they would don fake police identities, complete with imitation identity cards, walkie-talkies, imitation pistols, and vehicles fitted with fake number plates. Threatening the unsuspecting buyers, the gang would then abscond with their real cash. Police confirmed that this audacious scheme led to two separate incidents where customers were cheated of ₹2 lakh and ₹3 lakh respectively.
Arrests and Ongoing Investigation
The four individuals arrested have been identified as Madupoju Karnakar, Chinnolla Manikya Reddy, Cherukupelly Rathnakar Reddy, and Karanam Ajay Kumar. Authorities report that three other accomplices remain at large, and efforts are ongoing to locate and apprehend them as the investigation into this bizarre Hyderabad fake currency racket continues.