Kakinada: A fake currency racket was busted at Samalkot, near here on Tuesday. According to police, four persons were held on charges of printing currency and Rs 13.55 lakh worth fake notes were seized.
Acting on a tipoff, police arrested Nallagachu Anjaneyulu near SRC Lodge in Samalkot. Upon questioning Anjaneyulu disclosed currency printing racket at Anaparthy. Peddapuram and Samalkot police raided the house of Kovvuri.Satyanarayana Reddi in Anaparthy and arrested him.
The police seized Rs 13.55 lakh worth fake currency notes, colours used for printing of this notes and a high-end printer from the house. The gang was printing two thousand and five hundred rupees notes. Police also arrested Intri Sunil and Pammidi Ramesh, who were involved in the racket.