Swapping one Rs 500 note for 3 fake notes: B’luru police arrest four, recover Rs 10L worth counterfeit notes

Bengaluru: Subramanyapur police arrested four persons for allegedly trying to swap and circulate fake currency notes in Bengaluru ahead of the state assembly elections.

The arrested identified as Charan Singh, Rajani, Pullalarevu Raja and Gopinath are natives of Kadapa in Andhra Pradesh. Police confiscated Rs 10.34 lakhs of fake currency notes in Rs 500 denomination from the accused. Police said that the accused were offering three fake notes of Rs 500 denomination in exchange for one genuine Rs 500 note.

The police got a tip-off about the same and conducted a raid near Purnapragya Layout on the Uttarahalli-Kengeri main road on January 19 afternoon and arrested Charan and Rajani from a Bolero vehicle while they were trying to swap and circulate the fake notes in exchange for genuine notes. A total of 818 fake notes of Rs 500 denomination valuing around Rs 4 lakh were recovered from them. On January 20, the duo was presented before a court that remanded them to police custody for further investigation.

During the questioning, the accused revealed that they were printing fake notes from rented premises in the Anantapur district of Andhra Pradesh by using computer graphics. Based on this information, police travelled to the given address and arrested the other accused Pullalarevu Raja and Gopinath from there.

Upon searching the house, a further Rs six lakh worth of fake currency notes were recovered from them. Police are investigating the case to ascertain who bought the fake currency notes from the accused.

Meanwhile, police have advised the public to check the authenticity of the notes while doing any transaction as the accused have circulated huge amounts of fake currency notes prior to their arrest.